BANKNIFTY Intraday Trade Setup For 12 Mar 2024
Sell_1- From 47810
Invalid-Above 47920
T- 47500 47200
Sell_2- Below 47200
Invalid-Above 47310
T- 46615 46068
BANKNIFTY has closed on a bearish note with with 1% cut today. Sell triggered as per trade setup below 47730 and gave a good move in favor till 47235. Although a clear move, the momentum was really pathetic which is mainly due to VIX. It has to regain 16 then only there will be good momentum in intraday. Tomorrow above 47500 it will test 47810 zone. 47810 will act as a strong resistance and we will plan a short from there. Below 47200 clear bearish momentum will kick in.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47200 then we will short for the target of 46615 and 46068.
2nd sell can be planned from 47810. T- 47500 and 47200.
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.
Sell_1- From 47810
Invalid-Above 47920
T- 47500 47200
Sell_2- Below 47200
Invalid-Above 47310
T- 46615 46068
BANKNIFTY has closed on a bearish note with with 1% cut today. Sell triggered as per trade setup below 47730 and gave a good move in favor till 47235. Although a clear move, the momentum was really pathetic which is mainly due to VIX. It has to regain 16 then only there will be good momentum in intraday. Tomorrow above 47500 it will test 47810 zone. 47810 will act as a strong resistance and we will plan a short from there. Below 47200 clear bearish momentum will kick in.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47200 then we will short for the target of 46615 and 46068.
2nd sell can be planned from 47810. T- 47500 and 47200.
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.
