BANKNIFTY Intraday Trade Setup For 9 Jul 2024
BANKNIFTY Intraday Trade Setup For 9 Jul 2024
Bullish-Above 52710
Invalid-Below 52600
T- 53350+
Bearish-Below 52240
Invalid-Above 52350
T- 51680
BANKNIFTY has closed on bearish note with 0.45% cut today. Although it was bearish, nothing triggered as per trade setup and traded inside plotted support and resistance zone. So we will simply use today's range to trade tomorrow on breakout. 52710 and 52240 are levels to watch out for breakout. Since today's daily candle is a spinning top which is a indecision sign so we need to be neutral and not biased.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+
For selling we need a 15 Min candle close below 52240. T- 51680.
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 52710
Invalid-Below 52600
T- 53350+
Bearish-Below 52240
Invalid-Above 52350
T- 51680
BANKNIFTY has closed on bearish note with 0.45% cut today. Although it was bearish, nothing triggered as per trade setup and traded inside plotted support and resistance zone. So we will simply use today's range to trade tomorrow on breakout. 52710 and 52240 are levels to watch out for breakout. Since today's daily candle is a spinning top which is a indecision sign so we need to be neutral and not biased.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+
For selling we need a 15 Min candle close below 52240. T- 51680.
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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