BANKNIFTY Intraday Trade Setup For 15 Dec 2023
Bullish-Above 47950
Invalid-Below 47840
T- 48230 48510
Bearish-Below 47500
Invalid-Above 47610
T- 47190 46885
BANKNIFTY has closed on a bullish note with 1.36% gain today. While all the gains was contributed through gap up. 10 o'clock range was to be used as per setup. And fun fact is that it just traded within the range whole day. Market will show an easy bullish move above today's high on a flat opening. Below 47500 if sustained, there can be a chance of gap filling move. In between today's range market outlook will be sideways in intraday.
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 48230 and 48510.
For selling we need a 15 Min candle close below 47500. T- 47190 and 46885.
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 47950
Invalid-Below 47840
T- 48230 48510
Bearish-Below 47500
Invalid-Above 47610
T- 47190 46885
BANKNIFTY has closed on a bullish note with 1.36% gain today. While all the gains was contributed through gap up. 10 o'clock range was to be used as per setup. And fun fact is that it just traded within the range whole day. Market will show an easy bullish move above today's high on a flat opening. Below 47500 if sustained, there can be a chance of gap filling move. In between today's range market outlook will be sideways in intraday.
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 48230 and 48510.
For selling we need a 15 Min candle close below 47500. T- 47190 and 46885.
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.
