BANKNIFTY Intraday Trade Setup For 06 Dec 2023
BANKNIFTY Intraday Trade Setup For 06 Dec 2023
Bullish-Above 47240
Invalid-Below 47130
T- 47630 48030
Bearish-Below 46730
Invalid-Above 46840
T- 43356 45938
BANKNIFTY has closed on a bullish note once again with 1.25% gain today. It opened with a huge gap up opening and 10 o'clock range was to be used as per setup. Range broke upside above 46980 and gave a move till 47230. It has formed an symmetrical triangle in 15 Min TF, breakout will lead to a fresh move either side. 47240 and 46730 are important levels for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47240 then we will long for the target of 47630 and 48030.
For selling we need a 15 Min candle close below 46730. T- 46356 and 45938.
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 47240
Invalid-Below 47130
T- 47630 48030
Bearish-Below 46730
Invalid-Above 46840
T- 43356 45938
BANKNIFTY has closed on a bullish note once again with 1.25% gain today. It opened with a huge gap up opening and 10 o'clock range was to be used as per setup. Range broke upside above 46980 and gave a move till 47230. It has formed an symmetrical triangle in 15 Min TF, breakout will lead to a fresh move either side. 47240 and 46730 are important levels for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47240 then we will long for the target of 47630 and 48030.
For selling we need a 15 Min candle close below 46730. T- 46356 and 45938.
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.
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