BANKNIFTY Intraday Trade Setup For 20 Dec 2023
Bullish-Above 48020
Invalid-Below 47910
T- 48250 48575
Bearish-Below 47640
Invalid-Above 47750
T- 47420 47160
BANKNIFTY has closed has closed on a flat note today. Sell triggered as per trade setup below 47800 and gave a small move till 47647 then intraday price structure changed and reversed till day high. It has formed a Pin bar candle in daily TF so above 48020 we can expect a good move. For selling 47640 is the level but 47780 will be equally important to watch out. In the coming days 47600 will be an important level in hourly TF.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48020 then we will long for the target of 48250 and 48575.
For selling we need a 15 min candle close below 47640. T- 47420 and 47160.
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 48020
Invalid-Below 47910
T- 48250 48575
Bearish-Below 47640
Invalid-Above 47750
T- 47420 47160
BANKNIFTY has closed has closed on a flat note today. Sell triggered as per trade setup below 47800 and gave a small move till 47647 then intraday price structure changed and reversed till day high. It has formed a Pin bar candle in daily TF so above 48020 we can expect a good move. For selling 47640 is the level but 47780 will be equally important to watch out. In the coming days 47600 will be an important level in hourly TF.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48020 then we will long for the target of 48250 and 48575.
For selling we need a 15 min candle close below 47640. T- 47420 and 47160.
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.
