BANKNIFTY Intraday Trade Setup For 28 Aug 2024
BANKNIFTY Intraday Trade Setup For 28 Aug 2024
Bullish-Above 51410
Invalid-Below 51300
T- 51950+
Bearish-Below 50930
Invalid-Above 51040
T- 50390
BANKNIFTY has closed on a slight bullish note with 0.26% gain today. It has formed a Pinbar candle in daily TF. In the weekend we discussed that index looks sideways to bullish as it gave range breakout above 50800 last week. Since its a Pinbar candle in daily TF we can expect some bullish move above today's high tomorrow. For selling we need a key level and that seems to be 50930.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51410 then we will long for the target of 51950+.
For selling we need a 15 Min candle close below 50930. T- 50390.
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 51410
Invalid-Below 51300
T- 51950+
Bearish-Below 50930
Invalid-Above 51040
T- 50390
BANKNIFTY has closed on a slight bullish note with 0.26% gain today. It has formed a Pinbar candle in daily TF. In the weekend we discussed that index looks sideways to bullish as it gave range breakout above 50800 last week. Since its a Pinbar candle in daily TF we can expect some bullish move above today's high tomorrow. For selling we need a key level and that seems to be 50930.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51410 then we will long for the target of 51950+.
For selling we need a 15 Min candle close below 50930. T- 50390.
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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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.