BANKNIFTY Intraday Trade Setup For 21 Feb 2024
BANKNIFTY Intraday Trade Setup For 21 Feb 2024
Bullish-Above 47150
Invalid-Below 47040
T- 47640 48130
Bearish-Below 46780
Invalid-Above 46890
T- 46245 45640
BANKNIFTY has closed on a bullish note with 1.2% gain today. Since this weekend we have been discussing about 46600 breakout in daily TF, chart was also shared in the weekend. Today breakout happened finally. Yesterday we discussed that above 46720 there can be a good up move. So has happened, gave a move till 47130. Tomorrow once again we can expect continuation of today's daily TF breakout. 46300 will be Sl for this bullish breakout trade if considered.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47150 then we will long for the target of 47640 and 48130.
For selling we need a 15 Min candle close below 46780. T- 46245 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 47150
Invalid-Below 47040
T- 47640 48130
Bearish-Below 46780
Invalid-Above 46890
T- 46245 45640
BANKNIFTY has closed on a bullish note with 1.2% gain today. Since this weekend we have been discussing about 46600 breakout in daily TF, chart was also shared in the weekend. Today breakout happened finally. Yesterday we discussed that above 46720 there can be a good up move. So has happened, gave a move till 47130. Tomorrow once again we can expect continuation of today's daily TF breakout. 46300 will be Sl for this bullish breakout trade if considered.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47150 then we will long for the target of 47640 and 48130.
For selling we need a 15 Min candle close below 46780. T- 46245 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.
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