BANKNIFTY Intraday Trade Setup For 19 Dec 2023
BANKNIFTY Intraday Trade Setup For 19 Dec 2023
Bullish-Above 47980
Invalid-Above 47870
T- 48220 48565
Bearish-Below 47800
Invalid-Above 47910
T- 47420 47150
BANKNIFTY has closed on a bearish note with 0.57% cut today. It opened with a slight cut and traded overall in a range. Sell triggered as per trade setup below 47890 which closed near to cost EOD due to the sideways momentum. On a flat opening best trade looks in the sell side. Below 47800 there can be a decent sell off till 47420. For a buying case it has to sustain above 47980. However bullish move with momentum will come above 48220 only.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 47980 then we will long for the target of 48220 and 48565.
For selling we need a 15 min candle close below 47800. T- 47420 and 47150.
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.
Bullish-Above 47980
Invalid-Above 47870
T- 48220 48565
Bearish-Below 47800
Invalid-Above 47910
T- 47420 47150
BANKNIFTY has closed on a bearish note with 0.57% cut today. It opened with a slight cut and traded overall in a range. Sell triggered as per trade setup below 47890 which closed near to cost EOD due to the sideways momentum. On a flat opening best trade looks in the sell side. Below 47800 there can be a decent sell off till 47420. For a buying case it has to sustain above 47980. However bullish move with momentum will come above 48220 only.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 47980 then we will long for the target of 48220 and 48565.
For selling we need a 15 min candle close below 47800. T- 47420 and 47150.
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.
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.