BANKNIFTY Intraday Trade Setup For 22 Feb 2024
Bullish-Above 47380
Invalid-Below 47270
T- 47865 48425
Bearish-Below 46870
Invalid-Above 46980
T- 46230 45640
BANKNIFTY has closed on a very slight bearish note with 0.16% cut today. Buy triggered as per trade setup above 47150 which hit sl. It was a roller coaster ride whole day. It was a Open = High day so tomorrow below today's low there can be another slide towards 46230. 46230 is a PRZ and can act as a very strong intraday support. Above today's high high will be simple bullish view with a strong momentum followed by the daily TF trend.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47380 then we will long for the target of 47865 and 48425.
For selling we need a 15 Min candle close below 46870. T- 46230 and 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.
Bullish-Above 47380
Invalid-Below 47270
T- 47865 48425
Bearish-Below 46870
Invalid-Above 46980
T- 46230 45640
BANKNIFTY has closed on a very slight bearish note with 0.16% cut today. Buy triggered as per trade setup above 47150 which hit sl. It was a roller coaster ride whole day. It was a Open = High day so tomorrow below today's low there can be another slide towards 46230. 46230 is a PRZ and can act as a very strong intraday support. Above today's high high will be simple bullish view with a strong momentum followed by the daily TF trend.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47380 then we will long for the target of 47865 and 48425.
For selling we need a 15 Min candle close below 46870. T- 46230 and 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.
==========
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.
