BANKNIFTY Intraday Trade Setup For 01 Dec 2023

NSE:BANKNIFTY   Nifty Bank Index
BANKNIFTY Intraday Trade Setup For 01 Dec 2023

Bullish-Above 44770
Invalid-Above 44880
T- 45080 45345

Bearish-Below 44250
Invalid-Above 44360
T- 43980 43710

BANKNIFTY has closed on a slight bearish note with 0.19% cut today. Now next round of up move will resume above 44770 only. Today it traded between buy and sell level for the whole day. There can be a very good trendy move with momentum above today's high. Below 44250 it will give a downside move. In between it is risky to trade as it be a zoned market between today's high and low.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44770 then we will long for the target of 45080 and 45345.

For selling we need a 15 Min candle close below 44250. T- 43980 and 43710.

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.


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.