BANKNIFTY Intraday Trade Setup For 9 Aug 2024
BANKNIFTY Intraday Trade Setup For 9 Aug 2024
Bullish-Above 50450
Invalid-Below 50340
T- 51000
Bearish-Below 49650
Invalid-Above 49760
T- 48750
BANKNIFTY has closed on a flat note today. We have formed a hourly range of of 50750 and 49650. Also if we draw trendlines in hourly TF then a triangle formation is in progress. 50700 and 49650 is the mother candle's high as inside candles have been formed in these last 2 sessions. 50450 and 49650 are intraday levels for tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50450 then we will long for the target of 51000 zone.
For selling we need a 15 Min candle close below 49650. T- 48750.
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.
Bullish-Above 50450
Invalid-Below 50340
T- 51000
Bearish-Below 49650
Invalid-Above 49760
T- 48750
BANKNIFTY has closed on a flat note today. We have formed a hourly range of of 50750 and 49650. Also if we draw trendlines in hourly TF then a triangle formation is in progress. 50700 and 49650 is the mother candle's high as inside candles have been formed in these last 2 sessions. 50450 and 49650 are intraday levels for tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50450 then we will long for the target of 51000 zone.
For selling we need a 15 Min candle close below 49650. T- 48750.
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.