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BANKNIFTY Intraday Trade Setup For 08 Dec 2023

Nifty Bank Index (NSE:BANKNIFTY)  
Omahto  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Harmonic Patterns Chart Patterns BANKNIFTY bankniftyanalysis bankniftyforecast bankniftyprediction bankniftyintradaytradesetup bankniftytradesetup bankniftyintradaylevels bankniftylevels niftybank
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BANKNIFTY Intraday Trade Setup For 08 Dec 2023

Bullish-Above 46930
Invalid-Below 46820
T- 47260 47630

Bearish-Below 46650
Invalid-Above 46760
T- 46347 46040

BANKNIFTY has closed on an absolute flat note today. However the closing sentiment looks a bit bullish as it closed near day high. This bullishness will continue tomorrow above 46930 tomorrow. Our TSL in long (from 44450) is still intact. If a daily candle closes below PDL and below that red candle's low we will exit longs completely. On TSL sentiment will change to slight bearish from bullish. 44930 and 44650 are important levels for tomorrow's session.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46930 then we will long for the target of 47260 and 47630.

For selling we need a 15 Min candle close below 46650. T- 46347 and 46040.

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.

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NIFTY Intraday Trade Setup For 08 Dec 2023
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