BANKNIFTY Intraday Trade Setup For 29 Dec 2023
Bullish-Above 48650
Invalid-Below 48540
T- 49025 49440
Bearish-Below 48340
Invalid-Above 48450
T- 47952 47575
BANKNIFTY has closed on a bullish note with 0.47% gain today. It opened above our buy level with a gap up. 10 O'clock range was to be used as per trade setup. But nothing triggered as per that, whole day it traded between 10 o'clock range. Momentum dropped drastically due to VIX cool off. It has formed a Spinning top candle in daily TF which is halt sign. Below today's low it can be a reversal sign in very short or in intraday. Tomorrow we will trade on today's range breakout . 48650 and 48340 are important levels for next session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of
For selling we need a 15 Min candle close below 48340. T- 47950 and 47575.
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 48650
Invalid-Below 48540
T- 49025 49440
Bearish-Below 48340
Invalid-Above 48450
T- 47952 47575
BANKNIFTY has closed on a bullish note with 0.47% gain today. It opened above our buy level with a gap up. 10 O'clock range was to be used as per trade setup. But nothing triggered as per that, whole day it traded between 10 o'clock range. Momentum dropped drastically due to VIX cool off. It has formed a Spinning top candle in daily TF which is halt sign. Below today's low it can be a reversal sign in very short or in intraday. Tomorrow we will trade on today's range breakout . 48650 and 48340 are important levels for next session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of
For selling we need a 15 Min candle close below 48340. T- 47950 and 47575.
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.
