BANKNIFTY Intraday Trade Setup For 29 Dec 2023
Bullish-Above 48350
Invalid-Below 48240
T- 48730 49150
Bearish-Below 47880
Invalid-Above 47990
T- 47570 47207
BANKNIFTY has closed on a positive note with 1.17% gain today. Buy triggered as per trade setup above 47840 and hit our 1st target very smoothly (47840-48347). Tomorrow we can expect bullish continuation as it has closed at ATH. Above 48350 it can test 48750 zone and wild case 49150. Tomorrow it is the last expiry of the year, so may result in some volatility so be very strict with TSLs. 47880 is the level for a downside trigger.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 48350 then we will long for the target of 48730 and 49150.
For selling we need a 15 Min candle close below 47880. T- 47570 and 47200.
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 48350
Invalid-Below 48240
T- 48730 49150
Bearish-Below 47880
Invalid-Above 47990
T- 47570 47207
BANKNIFTY has closed on a positive note with 1.17% gain today. Buy triggered as per trade setup above 47840 and hit our 1st target very smoothly (47840-48347). Tomorrow we can expect bullish continuation as it has closed at ATH. Above 48350 it can test 48750 zone and wild case 49150. Tomorrow it is the last expiry of the year, so may result in some volatility so be very strict with TSLs. 47880 is the level for a downside trigger.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 48350 then we will long for the target of 48730 and 49150.
For selling we need a 15 Min candle close below 47880. T- 47570 and 47200.
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.
