BANKNIFTY Intraday Trade Setup For 3 Feb 2023
Buy-Above 40760
Sl-40650
T-41110 41475
Sell-Below 40065
Sl-40180
T-37943 39420
BANKNIFTY has closed with slight gain of 0.39% gain today. It has closed near day which is a bullish indication. This bullishness will continue above today's high. But whenever there is a buy scenario always be very tight in trailing as index is in sellers control from higher TF. Yesterday it was said that I will avoid trading today. As it was sensed that index is likely to trade in a range after huge move. IV spiked yesterday and post implications are either sideway or a dead momentum. It was clearly seen in today's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40760 then we will long. T- 41110 and 41476-41500.
For selling we need a 15 Min candle close below 40065. T- 39743 and 39420.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 40760
Sl-40650
T-41110 41475
Sell-Below 40065
Sl-40180
T-37943 39420
BANKNIFTY has closed with slight gain of 0.39% gain today. It has closed near day which is a bullish indication. This bullishness will continue above today's high. But whenever there is a buy scenario always be very tight in trailing as index is in sellers control from higher TF. Yesterday it was said that I will avoid trading today. As it was sensed that index is likely to trade in a range after huge move. IV spiked yesterday and post implications are either sideway or a dead momentum. It was clearly seen in today's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40760 then we will long. T- 41110 and 41476-41500.
For selling we need a 15 Min candle close below 40065. T- 39743 and 39420.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
