BANKNIFTY Intraday Trade Setup For 16 Dec 2024
Bullish-Above 46310
Invalid-Below 46200
T- 46915 47330
Bearish-Below 45740
Invalid-Above 45850
T- 45150 44650
BANKNIFTY has closed on a bullish note with 0.68% gain today. Last day we discussed that index closed on a bold bullish sentiment yesterday and chances of a continuation is high. Pullback buy scenario was also discussed however it did not trigger that and bounced from first confluence marked zone 45650 which was 0.382 of yesterday's range. Tomorrow once again we can expect bullish continuation above today's high.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46310 then we will long for the target of 46915.
For selling we need a 15 Min candle close below 45740. T- 45150 and 44650.
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 46310
Invalid-Below 46200
T- 46915 47330
Bearish-Below 45740
Invalid-Above 45850
T- 45150 44650
BANKNIFTY has closed on a bullish note with 0.68% gain today. Last day we discussed that index closed on a bold bullish sentiment yesterday and chances of a continuation is high. Pullback buy scenario was also discussed however it did not trigger that and bounced from first confluence marked zone 45650 which was 0.382 of yesterday's range. Tomorrow once again we can expect bullish continuation above today's high.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46310 then we will long for the target of 46915.
For selling we need a 15 Min candle close below 45740. T- 45150 and 44650.
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.
