BANKNIFTY Intraday Trade Setup For 13 Mar 2024
Bullish-Above 47500
Invalid-Below 47390
T- 47855 48385
Bearish-Below 47150
Invalid-Above 47260
T- 46645
BANKNIFTY closed almost on a flat note with a minor cut of 0.1% after a huge volatility today. As per the trade setup short triggered @ 47810 and gave a nose dive till 46885. Plotted half bat worked like a dot level. Now tomorrow if there is a big gap up above 47800 then chances of Open= High will be high. Opening between 47500 and 47200 will be best suited to trade on 47500 and 47150 range breakout. Till the time leader NIFTY is in distribution phase or trading between the parallel channel momentum will be fuss.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47500 then we will long for the target of 47855 and 48386.
For selling we need a 15 Min candle close below 47150. T- 46615.
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 47500
Invalid-Below 47390
T- 47855 48385
Bearish-Below 47150
Invalid-Above 47260
T- 46645
BANKNIFTY closed almost on a flat note with a minor cut of 0.1% after a huge volatility today. As per the trade setup short triggered @ 47810 and gave a nose dive till 46885. Plotted half bat worked like a dot level. Now tomorrow if there is a big gap up above 47800 then chances of Open= High will be high. Opening between 47500 and 47200 will be best suited to trade on 47500 and 47150 range breakout. Till the time leader NIFTY is in distribution phase or trading between the parallel channel momentum will be fuss.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47500 then we will long for the target of 47855 and 48386.
For selling we need a 15 Min candle close below 47150. T- 46615.
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.
