BANKNIFTY Intraday Trade Setup For 03 Feb 2022
BANKNIFTY Intraday Trade Setup For 03 Feb 2022
Buy-Above 39400
Sl-39300
T-39560 39785 40000
Sell-Below 39100
Sl-39200
T-39000 38800
BANKNIFTY as discussed that it is ready to give a breakout above 38900. BANKNIFTY moved 38900 to 39380+. Option buying was a bit tricky. Option selling gave very good profit as VIX crashed after the event.
We planned not to sell aggressively.
Only thing was index opened with a big gap up that is why momentum was less.
This bull sentiment will continue above today's high. So, we will buy above 39400 for the target of 39550 and 39800 and 40000.
Also trail sl to today's low who have longed after the breakout.
For selling we need price action below 39200. Selling can be avoided as of now. However tomorrow is weekly expiry so we can see 2 way moves. Today was trending.
Buy-Above 39400
Sl-39300
T-39560 39785 40000
Sell-Below 39100
Sl-39200
T-39000 38800
BANKNIFTY as discussed that it is ready to give a breakout above 38900. BANKNIFTY moved 38900 to 39380+. Option buying was a bit tricky. Option selling gave very good profit as VIX crashed after the event.
We planned not to sell aggressively.
Only thing was index opened with a big gap up that is why momentum was less.
This bull sentiment will continue above today's high. So, we will buy above 39400 for the target of 39550 and 39800 and 40000.
Also trail sl to today's low who have longed after the breakout.
For selling we need price action below 39200. Selling can be avoided as of now. However tomorrow is weekly expiry so we can see 2 way moves. Today was trending.
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