BANKNIFTY Intraday Trade Setup For 09 Feb 2024
BANKNIFTY Intraday Trade Setup For 09 Feb 2024
Sell_1- From 45650
Invalid-Above 45760
T- 45220 44900
Sell_2- Below 44890
Invalid-Above 45000
T- 44400 43915
BANKNIFTY has closed on a complete bearish note with 1.76% cut today. Since last 3 days BANKNIFTY was complete sideways between 46100 and 45500. Today range broke downside and a gave a good trendy move. Sell triggered as per trade setup below 45520 and hot 1st target 44900. Tomorrow there are two places to short one on pullback and one on continuation. Possibility of a bullish above 45650 looks less. Best trade will be on flat opening below 44890.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44890 then we will short for the target of 44400 and 43915.
In case it tests 45650 via a gap up move move then we will short from there. T- 45220 and 44900.
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.
Sell_1- From 45650
Invalid-Above 45760
T- 45220 44900
Sell_2- Below 44890
Invalid-Above 45000
T- 44400 43915
BANKNIFTY has closed on a complete bearish note with 1.76% cut today. Since last 3 days BANKNIFTY was complete sideways between 46100 and 45500. Today range broke downside and a gave a good trendy move. Sell triggered as per trade setup below 45520 and hot 1st target 44900. Tomorrow there are two places to short one on pullback and one on continuation. Possibility of a bullish above 45650 looks less. Best trade will be on flat opening below 44890.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44890 then we will short for the target of 44400 and 43915.
In case it tests 45650 via a gap up move move then we will short from there. T- 45220 and 44900.
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.
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