BANKNIFTY Intraday Trade Setup For 13 Nov 2023

BANKNIFTY Intraday Trade Setup For 13 Nov 2023

Bullish-Above 44060
Invalid-Below 43950
T- 44269 44530

Bearish-Below 43910
T- 43695 43475

BANKNIFTY has closed on a slight bullish note last week with some 1% gain. On 31 Oct EOD when BANKNIFTY was at 42845,43400 was discussed as a bullish reversal level. After it was triggered index has given slow and steady movement till 44056. Still it has some more space left. 44060 and 43910 are important levels for tomorrow's session based on Muhurat Trading price action.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44060 then we will long for the target of 44269 and 44530.

For selling we need a 15 Min candle close below 43910. T- 43695 and 43475.

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.


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