BANKNIFTY Intraday Trade Setup For 24 Jun 2024
Bullish-Above 52000
Invalid-Below 51890
T- 52550 53111
Bearish-Below 51200
Invalid-Above 51310
T- 50570 49900
BANKNIFTY has closed on a bullish note with 3.32% gain last week. It is approaching 53100-500 zone in the coming days. I feel that chances of a top is between 53k zone. 53100-53250 can act as a strong resistance in intraday when tested. Since last 2 sessions index has traded between 52k and 51200, we will simply trade this range breakout. However it looks bullish as per the last session candle which is a Pinbar.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52550 and 53111.
For selling we need a 15 Min candle close below 51200. T- 50570 and 49900.
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 52000
Invalid-Below 51890
T- 52550 53111
Bearish-Below 51200
Invalid-Above 51310
T- 50570 49900
BANKNIFTY has closed on a bullish note with 3.32% gain last week. It is approaching 53100-500 zone in the coming days. I feel that chances of a top is between 53k zone. 53100-53250 can act as a strong resistance in intraday when tested. Since last 2 sessions index has traded between 52k and 51200, we will simply trade this range breakout. However it looks bullish as per the last session candle which is a Pinbar.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52550 and 53111.
For selling we need a 15 Min candle close below 51200. T- 50570 and 49900.
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.
