BANKNIFTY Intraday Trade Setup For 18 Dec 2023
Bullish-Above 48220
Invalid-Below 48110
T- 48565 48920
Bearish-Below 47890
Invalid-Above 48000
T- 47510 47190
BANKNIFTY has closed on a bullish note last week with 1.87% gain last week. It was a bit messy up move as thats how a typical bull run happens. Bulls are ready to take BANKNIFTY till 50650. Till then all dips will be bought. Best outlook is to find bullish reversal trades in intraday if a dip served. No point in looking for reversal positionally till we get a bold bearish candle or sentiment on weekly charts. 48220 and 47890 are important levels for next session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48220 then we will long for the target of 48565 and 48920.
For selling we need a 15 Min candle close below 47890. T- 47510 and 47190.
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 48220
Invalid-Below 48110
T- 48565 48920
Bearish-Below 47890
Invalid-Above 48000
T- 47510 47190
BANKNIFTY has closed on a bullish note last week with 1.87% gain last week. It was a bit messy up move as thats how a typical bull run happens. Bulls are ready to take BANKNIFTY till 50650. Till then all dips will be bought. Best outlook is to find bullish reversal trades in intraday if a dip served. No point in looking for reversal positionally till we get a bold bearish candle or sentiment on weekly charts. 48220 and 47890 are important levels for next session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48220 then we will long for the target of 48565 and 48920.
For selling we need a 15 Min candle close below 47890. T- 47510 and 47190.
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.
