BANKNIFTY Intraday Trade Setup For 22 Mar 2024
Bullish-Above 47000
Invalid-Below 46890
T- 47615
Bearish-Below 46550
Invalid-Above 46660
T- 46050 45640
BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below today's low- 46550 we can see a good down move towards 46000. This week looks as it will hover near 50 EMA in daily TF. Possibility of a upmove looks less as per today's daily candle. However above 47000 we will plan bullish trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47000 then we will long for the target of 47615.
For selling we need a 15 Min candle close below 46550. T- 46050 and 45640.
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 47000
Invalid-Below 46890
T- 47615
Bearish-Below 46550
Invalid-Above 46660
T- 46050 45640
BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below today's low- 46550 we can see a good down move towards 46000. This week looks as it will hover near 50 EMA in daily TF. Possibility of a upmove looks less as per today's daily candle. However above 47000 we will plan bullish trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47000 then we will long for the target of 47615.
For selling we need a 15 Min candle close below 46550. T- 46050 and 45640.
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.
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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.