BANKNIFTY Intraday Trade Setup For 30 Apr 2024
Bullish-Above 49500
Invalid-Below 49390
T- 50085
Bearish-Below 48940
Invalid-Above 49050
T- 48480
BANKNIFTY has closed on a bold bullish note after a long time with 2.54% gain today. Buy triggered as per trade setup above 48510 and index just sky rocketed till 49470. In the weekend we discussed that 48700 and 47700 are hourly levels. Breakout of this range in the upside gave a fantastic move. Tomorrow if index opens flat and gives a small pullback towards 49230 and then crosses 49500 then we will buy. 48950 will act as a strong support, post bounce below 48940 we will plan to short.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 49500 then we will long for the target of 50085.
For selling we need a 15 Min candle close below 48940. T- 48480.
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 49500
Invalid-Below 49390
T- 50085
Bearish-Below 48940
Invalid-Above 49050
T- 48480
BANKNIFTY has closed on a bold bullish note after a long time with 2.54% gain today. Buy triggered as per trade setup above 48510 and index just sky rocketed till 49470. In the weekend we discussed that 48700 and 47700 are hourly levels. Breakout of this range in the upside gave a fantastic move. Tomorrow if index opens flat and gives a small pullback towards 49230 and then crosses 49500 then we will buy. 48950 will act as a strong support, post bounce below 48940 we will plan to short.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 49500 then we will long for the target of 50085.
For selling we need a 15 Min candle close below 48940. T- 48480.
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.
