BANKNIFTY Intraday Trade Setup For 1 Jul 2024
Bullish-Above 52750
Invalid-Below 52640
T- 53250
Bearish-Below 52240
Invalid-Above 52350
T- 51645
BANKNIFTY has closed on a bullish note with 1.32% gain last week. In the last two days out of 5 sessions it turned slight bearish or can call this a profit booking. Also I alerted 27 Jun EOD that there is a possibility of reversal in case it trades below 52600. It got triggered and now this downside move will be neglected only when it make a bullish price structure in 15 Min TF. 52750 and 52240 will be trigger levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52750 then we will long for the target of 53250.
For selling we need a 15 Min candle close below 52240. T- 51645.
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 52750
Invalid-Below 52640
T- 53250
Bearish-Below 52240
Invalid-Above 52350
T- 51645
BANKNIFTY has closed on a bullish note with 1.32% gain last week. In the last two days out of 5 sessions it turned slight bearish or can call this a profit booking. Also I alerted 27 Jun EOD that there is a possibility of reversal in case it trades below 52600. It got triggered and now this downside move will be neglected only when it make a bullish price structure in 15 Min TF. 52750 and 52240 will be trigger levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52750 then we will long for the target of 53250.
For selling we need a 15 Min candle close below 52240. T- 51645.
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.
