BANKNIFTY Intraday Trade Setup For 24 Feb 2024
Bullish-Above 48310
Invalid-Below 48200
T- 48755
Bearish-Below 47890
Invalid-Above 48000
T- 47300
BANKNIFTY has closed almost on a flat note today. It opened with a big gap and was sold into immediately like yesterday. 10 o'clock range was to be used as per setup but index did not break out any side. It traded inside 200 points range majority of the day. Index may test half bat PRZ or 0.58 if it breaks 47890 tomorrow. 47300 can act as an intraday support tomorrow. Above 48090 bulls will try to take charge but 48300 will be bullish trigger.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48300 then we will long for the target of 48755.
For selling we need a 15 Min candle close below 47890. T- 47300.
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 48310
Invalid-Below 48200
T- 48755
Bearish-Below 47890
Invalid-Above 48000
T- 47300
BANKNIFTY has closed almost on a flat note today. It opened with a big gap and was sold into immediately like yesterday. 10 o'clock range was to be used as per setup but index did not break out any side. It traded inside 200 points range majority of the day. Index may test half bat PRZ or 0.58 if it breaks 47890 tomorrow. 47300 can act as an intraday support tomorrow. Above 48090 bulls will try to take charge but 48300 will be bullish trigger.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48300 then we will long for the target of 48755.
For selling we need a 15 Min candle close below 47890. T- 47300.
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.
