BANKNIFTY Intraday Trade Setup For 13 Feb 2024
BANKNIFTY Intraday Trade Setup For 13 Feb 2024
Bullish-Above 45100
Invalid-Below 44990
T- 45680 46220
Bearish-Below 44620
Invalid-Above 44730
T- 44100 43550
BANKNIFTY has closed on a bold bearish note with 1.65% cut today. Yesterday we discussed that index closed near 45650 which was a resistance zone as per projected half bat (0.618) pattern. Idea worked pretty well and resistance was taken from 0.618 , meanwhile sell triggered below 45250 and hit first target (44650) very smoothly. Tomorrow once again we can be selling mode below 44620 and will be best suited if we open above that and then trigger.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45100 then we will long for the target of 45680 and 46220.
For selling we need a 15 Min candle close below 44620. T- 44100 and 43550.
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 45100
Invalid-Below 44990
T- 45680 46220
Bearish-Below 44620
Invalid-Above 44730
T- 44100 43550
BANKNIFTY has closed on a bold bearish note with 1.65% cut today. Yesterday we discussed that index closed near 45650 which was a resistance zone as per projected half bat (0.618) pattern. Idea worked pretty well and resistance was taken from 0.618 , meanwhile sell triggered below 45250 and hit first target (44650) very smoothly. Tomorrow once again we can be selling mode below 44620 and will be best suited if we open above that and then trigger.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45100 then we will long for the target of 45680 and 46220.
For selling we need a 15 Min candle close below 44620. T- 44100 and 43550.
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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