BANKNIFTY Intraday Trade Setup For 4 Apr 2024
Bullish-Above 47720
Invalid-Below 47610
T- 48210-50
Bearish-Below 47350
Invalid-Above 47460
T- 46970
BANKNIFTY has closed on a slight bullish note with 0.17% gain today. It seems to be a strong bulls presence as it opened gap down due to global cues and then recovered and closed near day high. Above 47720 we can expect a strong bullish impulse towards 48250 zone. Best case bullish trade will be if index opens below 47700 and breaks 47720. It is a high probability trade. Below 47350 we will plan a short trade towards 47k zone, 47370 being intra support.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47720 then we will long for the target of 48250.
For selling we need a 15 min candle close below 47350. T- 46970.
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 47720
Invalid-Below 47610
T- 48210-50
Bearish-Below 47350
Invalid-Above 47460
T- 46970
BANKNIFTY has closed on a slight bullish note with 0.17% gain today. It seems to be a strong bulls presence as it opened gap down due to global cues and then recovered and closed near day high. Above 47720 we can expect a strong bullish impulse towards 48250 zone. Best case bullish trade will be if index opens below 47700 and breaks 47720. It is a high probability trade. Below 47350 we will plan a short trade towards 47k zone, 47370 being intra support.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47720 then we will long for the target of 48250.
For selling we need a 15 min candle close below 47350. T- 46970.
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.
