BANKNIFTY Intraday Trade Setup For 27 Dec 2023
Bullish-Above 47840
Invalid-Below 47730
T- 48220 48632
Bearish-Below 47400
Invalid-Above 47510
T- 47029 46685
BANKNIFTY has closed on a bullish note with 0.49% gain today. Buy triggered as per trade setup which ended with no profit no loss as EOD it near cost. After taking support from previous day low it was completely sideways for the rest of the day. In the weekend analysis we had already discussed that index is contracting in hourly TF so momentum will come after its breakout. Tomorrow 47840 and 47400 are important levels to plan trades.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47840 then we will long for the target of 48220 and 48632.
For selling we need a 15 Min candle close below 47400. T- 47029 and 46685.
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 47840
Invalid-Below 47730
T- 48220 48632
Bearish-Below 47400
Invalid-Above 47510
T- 47029 46685
BANKNIFTY has closed on a bullish note with 0.49% gain today. Buy triggered as per trade setup which ended with no profit no loss as EOD it near cost. After taking support from previous day low it was completely sideways for the rest of the day. In the weekend analysis we had already discussed that index is contracting in hourly TF so momentum will come after its breakout. Tomorrow 47840 and 47400 are important levels to plan trades.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47840 then we will long for the target of 48220 and 48632.
For selling we need a 15 Min candle close below 47400. T- 47029 and 46685.
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.
