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BANKNIFTY Intraday Trade Setup For 13 Dec 2023

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Harmonic Patterns Chart Patterns BANKNIFTY bankniftyanalysis bankniftyforecast bankniftyprediction bankniftytradesetup bankniftyintradaytradesetup bankniftyintradaylevels bankniftylevels nifty50
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trendanalysis harmonicpatterns chartpattern banknifty bankniftyanalysis bankniftyforecast bankniftyprediction bankniftytradesetup bankniftyintradaytradesetup bankniftyintradaylevels bankniftylevels nifty50
BANKNIFTY Intraday Trade Setup For 13 Dec 2023

Bullish-Above 47260
Invalid-Below 47150
T- 47600 48013

Bearish-Below 47000
Invalid-Above 47110
T- 46720 46350

BANKNIFTY has closed on a bearish note with 0.46% cut today. Sell triggered as per trade setup below 47180 and gave a move till 47005 and market closed at mid target. Tomorrow once again bearish move likely to continue below today's low. For a bullish action it has to regain 47260. Also daily candle has closed below PDL so below today's low we will exit longs completely and there will sentiment reversal.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47260 then we will long for the target of 47600 and 48013.

For selling we need a 15 Min candle close below 47000. T- 46725 and 46350.

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.

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NIFTY Intraday Trade Setup For 13 Dec 2023
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