BANKNIFTY Intraday Trade Setup For 2 Apr 2024
Bullish-Above 47650
Invalid-Below 47540
T- 48055
Bearish-Below 47370
Invalid-Above 47480
T- 46970
BANKNIFTY has closed on a bullish note with nearly 1% gain today. It opened with a gap up near our buy level and buy triggered above 47450 and gave a move till 47640. After a big gap up 10 o'clock range was to be used as per trade setup but it was not triggered, index traded inside 10 o'clock range. Tomorrow below 47370 it can trigger a pullback move towards 46970 as per half bat pattern same will be intraday support.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47650 then we will long for the target of 48055.
For selling we need a 15 Min candle close below 47370. T- 46970 and 46625.
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 47650
Invalid-Below 47540
T- 48055
Bearish-Below 47370
Invalid-Above 47480
T- 46970
BANKNIFTY has closed on a bullish note with nearly 1% gain today. It opened with a gap up near our buy level and buy triggered above 47450 and gave a move till 47640. After a big gap up 10 o'clock range was to be used as per trade setup but it was not triggered, index traded inside 10 o'clock range. Tomorrow below 47370 it can trigger a pullback move towards 46970 as per half bat pattern same will be intraday support.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47650 then we will long for the target of 48055.
For selling we need a 15 Min candle close below 47370. T- 46970 and 46625.
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.
