BANKNIFTY Intraday Trade Setup For 21 Nov 2023
Sell_1- From 47805
Invalid-Above 47915
T- 47500 47200
Sell_2- 47200
Invalid-Above 47310
T- 46850 46485
BANKNIFTY has closed on a bold bearish note with 0.89% cut. It opened with a gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 48015 , last swing high was 48160. Trade gave a mega move till 47203. Tomorrow there is a fair chance of pullback till 47805 and 0.618 can act as an intraday resistance. On a flat opening below 47200 there can be another round of selling. Hourly support lies near 46850 zone.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle close below 47200 then we will short. T- 46850 and 46485.
2nd selling will be from 47805. T- 47500 and 47200.
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.
Sell_1- From 47805
Invalid-Above 47915
T- 47500 47200
Sell_2- 47200
Invalid-Above 47310
T- 46850 46485
BANKNIFTY has closed on a bold bearish note with 0.89% cut. It opened with a gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 48015 , last swing high was 48160. Trade gave a mega move till 47203. Tomorrow there is a fair chance of pullback till 47805 and 0.618 can act as an intraday resistance. On a flat opening below 47200 there can be another round of selling. Hourly support lies near 46850 zone.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle close below 47200 then we will short. T- 46850 and 46485.
2nd selling will be from 47805. T- 47500 and 47200.
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.
