BANKNIFTY Intraday Trade Setup For 22 Dec 2023
BANKNIFTY Intraday Trade Setup For 22 Dec 2023
Bullish-Above 47950
Invalid-Below 47840
T- 48335 48750
Bearish-Below 47330
Invalid-Above 47440
T- 46915 46485
BANKNIFTY has closed on a bullish note with 0.83% gain today. Yesterday it was said that there is a probability of pullback which happened very effectively. Only problem was the gap down opening and sell triggered which hit sl. However 10 o'clock range was to be used and range broke upside above 47250 and reached till yesterday's half bat plotted. As the Vix has shot up the volatility is insane in the last 2-3 days. 47950 and 47330 are important levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47950 then we will long for the target of 48335 and 48750.
For selling we need a 15 Min candle close below 47330. T- 46915 and 46485.
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 47950
Invalid-Below 47840
T- 48335 48750
Bearish-Below 47330
Invalid-Above 47440
T- 46915 46485
BANKNIFTY has closed on a bullish note with 0.83% gain today. Yesterday it was said that there is a probability of pullback which happened very effectively. Only problem was the gap down opening and sell triggered which hit sl. However 10 o'clock range was to be used and range broke upside above 47250 and reached till yesterday's half bat plotted. As the Vix has shot up the volatility is insane in the last 2-3 days. 47950 and 47330 are important levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47950 then we will long for the target of 48335 and 48750.
For selling we need a 15 Min candle close below 47330. T- 46915 and 46485.
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.