BANKNIFTY Intraday Trade Setup For 28 Nov 2023
Bullish-Above 43810
Invalid-Below 43700
T- 44080 44285
Bearish-Below 43580
Invalid-Above 43690
T- 43330 43085
BANKNIFTY has closed with a slight gain of 0.42% last week. Last week it was discussed that index momentum will be complete sideways till Nov monthly candle closes at a good level to trigger any direction. So has happened and so will happen this weak too. Stay cautious for intraday as momentum is dead. Important level is 44450 for an upside trigger and 43200 being the downside trigger level. 43810 and 43580 are important levels for next session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43810 then we will long for the target of 44080 and 44285.
For selling we need a 15 Min candle close below 43580. T- 43330 and 43085.
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 43810
Invalid-Below 43700
T- 44080 44285
Bearish-Below 43580
Invalid-Above 43690
T- 43330 43085
BANKNIFTY has closed with a slight gain of 0.42% last week. Last week it was discussed that index momentum will be complete sideways till Nov monthly candle closes at a good level to trigger any direction. So has happened and so will happen this weak too. Stay cautious for intraday as momentum is dead. Important level is 44450 for an upside trigger and 43200 being the downside trigger level. 43810 and 43580 are important levels for next session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43810 then we will long for the target of 44080 and 44285.
For selling we need a 15 Min candle close below 43580. T- 43330 and 43085.
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.
