BANKNIFTY Intraday Trade Setup For 23 Feb 2024BANKNIFTY Intraday Trade Setup For 23 Feb 2024
Bullish-Above 47040
Invalid-Below 46930
T- 47690 48315
Bearish-Below 46350
Invalid-Above 46460
T- 45640
BANKNIFTY has closed with a slight cut of 0.21% today. Sell triggered as per trades setup below 46870 and gave a good move till 46430 there a sharp reversal came in the afternoon session. It has formed a Pin bar candle which caters a bullish sentiment which is followed by the daily TF current. Index has given a bullish breakout above 46600 and now we can expect a good upside momentum towards ATH. Best trade is in upside on a flat opening above today's high. 46350 is an intraday support.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47040 then we will long for the target of 47690 and 48315.
For selling we need a 15 Min candle close below 46350. T- 45640.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
