BANKNIFTY Intraday Trade Setup For 29 Jul 2024
BANKNIFTY Intraday Trade Setup For 29 Jul 2024
Bullish-Above 51400
Invalid-Below 51290
T- 51950
Buy-From 50845
Invalid-Below 50735
T- 51300
BANKNIFTY has closed on a slight bearish note with 1.86% cut last week. On Friday there was buying from opening itself, it was Open=Low day. It has taken support from 50 EMA in daily TF. Now above 51400 this bounce can be extended at least towards 52K zone. Below 50350 in daily TF it will be bearish in short term. Best trade will be in bullish side tomorrow if we get a slight pullback before breakout of 51400. 50845 can be intra support.
Coming to Monday's trade setup, if index opens opens flat and a 15 Min candle closes above 51400 then we will long for the target of 51950-52k
2nd buying can be done from 50845. T- 51300.
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 51400
Invalid-Below 51290
T- 51950
Buy-From 50845
Invalid-Below 50735
T- 51300
BANKNIFTY has closed on a slight bearish note with 1.86% cut last week. On Friday there was buying from opening itself, it was Open=Low day. It has taken support from 50 EMA in daily TF. Now above 51400 this bounce can be extended at least towards 52K zone. Below 50350 in daily TF it will be bearish in short term. Best trade will be in bullish side tomorrow if we get a slight pullback before breakout of 51400. 50845 can be intra support.
Coming to Monday's trade setup, if index opens opens flat and a 15 Min candle closes above 51400 then we will long for the target of 51950-52k
2nd buying can be done from 50845. T- 51300.
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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