BANKNIFTY Intraday Trade Setup For 5 Apr 2024
Bullish-Above 48260
Invalid- Below 48150
T- 48800 49150
Bearish-Below 47700
Invalid-Above 47810
T- 47350 46970
BANKNIFTY has closed on a positive note with 0.92% gain today. Both side moves were seen in today's session after a long time. We saw an increase in candle's size and which is due to Expiry and RBI Credit Policy tomorrow. Tomorrow there will be both side moves due to event. I will personally not trade tomorrow. 48800 and 47700 are major levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48260 then we will long for the target of 48800 and 49150.
For selling we need a 15 Min candle close below 47700. T- 47350 and 46970.
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 48260
Invalid- Below 48150
T- 48800 49150
Bearish-Below 47700
Invalid-Above 47810
T- 47350 46970
BANKNIFTY has closed on a positive note with 0.92% gain today. Both side moves were seen in today's session after a long time. We saw an increase in candle's size and which is due to Expiry and RBI Credit Policy tomorrow. Tomorrow there will be both side moves due to event. I will personally not trade tomorrow. 48800 and 47700 are major levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48260 then we will long for the target of 48800 and 49150.
For selling we need a 15 Min candle close below 47700. T- 47350 and 46970.
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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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.