BANKNIFTY Intraday Trade Setup For 28 Jun 2024
Bullish-Above 53200
Invalid-Below 53090
T- 53700
Bearish-Below 52600
Invalid-Above 52490
T- 52087
BANKNIFTY has closed on neutral note, formed a spinning candle in daily TF which is halt/reversal sign. In case its low 52600 is broken then it will act as a reversal sign of the uptrend. We can expect a good downside move below 52600. In case 53200 is broken in the higher side then it will be once again solid bullish move. 53700 is will be direct target in the higher side. We will maintain non-directional approach between 53200 and 52600.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 53200 then we will long for the target of 53700.
For selling we need a 15 Min candle close below 52600. T- 52085.
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 53200
Invalid-Below 53090
T- 53700
Bearish-Below 52600
Invalid-Above 52490
T- 52087
BANKNIFTY has closed on neutral note, formed a spinning candle in daily TF which is halt/reversal sign. In case its low 52600 is broken then it will act as a reversal sign of the uptrend. We can expect a good downside move below 52600. In case 53200 is broken in the higher side then it will be once again solid bullish move. 53700 is will be direct target in the higher side. We will maintain non-directional approach between 53200 and 52600.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 53200 then we will long for the target of 53700.
For selling we need a 15 Min candle close below 52600. T- 52085.
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.
