BANKNIFTY Intraday Trade Setup For 24 Nov 2023

BANKNIFTY Intraday Trade Setup For 24 Nov 2023

Bullish-Above 43650
Invalid-Below 43540
T- 43853 44055

Bearish-Below 43450
Invalid-Above 43560
T- 43230 42948

BANKNIFTY has closed with a slight gain of 0.29% yesterday. Buy triggered above 43510 last day which gave a small move till 43649. It was all sideways yesterday, momentum was dead. Above today's high on a flat opening we ca see a good upside move, so 43650 is very important. Now for a bearish trade 43450 is the level to look for breakout. In between we will be neutral and will avoid any directional anticipation.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43650 then we will long for the target of 43853 and 44055.

For selling we need a 15 Min candle close below 43450. T- 43230 and 42948.

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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