BANKNIFTY Intraday Trade Setup For 01 Feb 2022 (Budget 2022)

BANKNIFTY Intraday Trade Setup For 01 Feb 2022

Buy-Above 38200
Sl-38100
T-38500 38800 39000+

Sell-Below 37800
Sl-37900
T-37600 37400 37000

BANKNIFTY has formed a complete inside candle in daily TF. Inside candle is created before a big move. The market is ready to move either side.
The high and low of the mother candle will decide the move and direction.
38430 in the higher side and 37580 in the lower side. Directional move will come on breakout or breakdown of this range.

Also safe trades can trade after 12 o' clock after a range is formed in intraday. This can be a trendy move.

As of now market seems a bit bullish above 38000. Also keep an eye on trendline support.

Below 37500 index is negative and index can touch 3700 36600 even below.

Actual move will come above 38500 and below 37500. This is the range for budget day.

Also keep a check on position size as volatility will be at its peak. Swings will be bigger. Moves will be mostly sentimental and less technical.