BANKNIFTY Intraday Trade Setup For 27 Sep 2023
Bullish-Above 44725
Invalid-Below 44615
T- 45040 45252
Bearish-Below 44530
Invalid-Above 44640
T- 44225 43917
BANKNIFTY has closed with a slight bearish note with 0.32% cut today. In the weekend analysis it was discussed that index can form a base near 44500 and probability of sideways is high after a parabolic down move. It has closed exactly at 44600 in 3 out of 4 last sessions. It was just sideways throughout the day. Sell triggered below 44580 which ended at cost EOD. Tomorrow sustaining above 44725 in 15 Min TF will initiate a bullish momentum. However a clean downside momentum is possible below 44400 only.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44725 then we will long for the target of 45040 and 45252.
For selling we need a 15 Min candle close below 44530. T- 44225 and 43917. Trail sl below 44400.
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.
Bullish-Above 44725
Invalid-Below 44615
T- 45040 45252
Bearish-Below 44530
Invalid-Above 44640
T- 44225 43917
BANKNIFTY has closed with a slight bearish note with 0.32% cut today. In the weekend analysis it was discussed that index can form a base near 44500 and probability of sideways is high after a parabolic down move. It has closed exactly at 44600 in 3 out of 4 last sessions. It was just sideways throughout the day. Sell triggered below 44580 which ended at cost EOD. Tomorrow sustaining above 44725 in 15 Min TF will initiate a bullish momentum. However a clean downside momentum is possible below 44400 only.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44725 then we will long for the target of 45040 and 45252.
For selling we need a 15 Min candle close below 44530. T- 44225 and 43917. Trail sl below 44400.
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.
