BANKNIFTY Intraday Trade Setup For 14 Jun 2024
Bullish-Above 50300
Invalid-Below 50190
T- 51000
Bearish-Below 49750
Invalid-Above 49860
T- 49230
BANKNIFTY has closed once again on flat note with minor cut of 0.1% today. Since 7 Jun it is closing exactly near same level everyday. However we have already discussed the possibility of compressed move this week on Monday itself. We have a holiday on Monday so there will be multiple expires which may result in random moves. 50300 and 49750 is the range to look for breakout.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50300 then we will long for the target of 51k.
For selling we need a 15 min candle close below 49750. T- 49230.
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 50300
Invalid-Below 50190
T- 51000
Bearish-Below 49750
Invalid-Above 49860
T- 49230
BANKNIFTY has closed once again on flat note with minor cut of 0.1% today. Since 7 Jun it is closing exactly near same level everyday. However we have already discussed the possibility of compressed move this week on Monday itself. We have a holiday on Monday so there will be multiple expires which may result in random moves. 50300 and 49750 is the range to look for breakout.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50300 then we will long for the target of 51k.
For selling we need a 15 min candle close below 49750. T- 49230.
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.
