BANKNIFTY Intraday Trade Setup For 15 Nov 2023

BANKNIFTY Intraday Trade Setup For 15 Nov 2023

Bullish-Above 44060
Invalid-Below 43950
T- 44287 44530

Bearish-Below 43680
Invalid-Above 43790
T- 43475 43260

BANKNIFTY has closed with a slight cut of 0.24% last day. In the weekend pullback scenario was discussed and half bat was plotted. Monday view matched and scenario turned into reality. Although it has closed with a slight cut but in daily TF it has formed a Pinbar candle so above 43980 it will have bullish stance. Below 43680 trendy downside move may initiate. 44287-300 is first resistance for tomorrow's session.

Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44060 then we will long for the target of 44287-300 and 44530.

For selling we need a 15 Min candle close below 43680. T- 43475 and 43260.

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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