BANKNIFTY Intraday Trade Setup For 10 Feb 2022
Buy-Above 38650
Sl-38550
T-38775 38900 39000
Sell-Below 38500
Sl-38600
T-38300 38200 38000
As we discussed yesterday that BANKNIFTY has made a hammer in daily TF. And above hammer's high , we will see upside momentum. We discussed to buy above 38225.Index gave more than 350 points profit in buy side. Index was sideways for a long period of time in intraday.
Index has closed at higher levels. Above today's high we will simply buy for the target of 38800 and 39000. Ideal trade will be on flat opening , then if crosses today's high we will buy.
But if index opens flat and consolidates between 38650 and 38550 and crosses 38500 in the lower side. Then we will sell for the target of 38300 and 38200. Momentum in the downside will be seen below 38350 only. But we are planning to sell below 38500, this is aggressive trade. And remember that it should make a small range then break 38500.
Tomorrow is expiry do trade carefully. If Index opens with big gap up or gap down. Then we will wait till 10 o'clock then trade that range.
Buy-Above 38650
Sl-38550
T-38775 38900 39000
Sell-Below 38500
Sl-38600
T-38300 38200 38000
As we discussed yesterday that BANKNIFTY has made a hammer in daily TF. And above hammer's high , we will see upside momentum. We discussed to buy above 38225.Index gave more than 350 points profit in buy side. Index was sideways for a long period of time in intraday.
Index has closed at higher levels. Above today's high we will simply buy for the target of 38800 and 39000. Ideal trade will be on flat opening , then if crosses today's high we will buy.
But if index opens flat and consolidates between 38650 and 38550 and crosses 38500 in the lower side. Then we will sell for the target of 38300 and 38200. Momentum in the downside will be seen below 38350 only. But we are planning to sell below 38500, this is aggressive trade. And remember that it should make a small range then break 38500.
Tomorrow is expiry do trade carefully. If Index opens with big gap up or gap down. Then we will wait till 10 o'clock then trade that range.
