BANKNIFTY Intraday Trade Setup For 22 Aug 2024
Bullish-Above 50810
Invalid-Below 50700
T- 51515
Bearish-Below 50300
Invalid-Above 50410
T- 49650
BANKNIFTY has closed with a slight cut of 0.23% today but on a positive note as it has formed a Pinbar candle and closed near day high. 50810 looks like an important level for a bullish trigger as bulls may give breakout in daily TF. Daily TF range of 50800 and 49700 is still intact, time for a range shift now. 51k and 50300 will be key level for tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 50810 then we will long for the target of 51515.
For selling we need a 15 Min candle close below 50300. T- 49650.
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 50810
Invalid-Below 50700
T- 51515
Bearish-Below 50300
Invalid-Above 50410
T- 49650
BANKNIFTY has closed with a slight cut of 0.23% today but on a positive note as it has formed a Pinbar candle and closed near day high. 50810 looks like an important level for a bullish trigger as bulls may give breakout in daily TF. Daily TF range of 50800 and 49700 is still intact, time for a range shift now. 51k and 50300 will be key level for tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 50810 then we will long for the target of 51515.
For selling we need a 15 Min candle close below 50300. T- 49650.
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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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.
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.