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BANKNIFTY Intraday Trade Setup For 20 Jun 2024BANKNIFTY Intraday Trade Setup For 20 Jun 2024 Bullish-Above 52000 Invalid-Below 51890 T- 52550 Buy_2- From 50820 Invalid-Below 50710 T- 51400 BANKNIFTY has closed on a bold bullish note with 1.9% gain today. Buy triggered as per trade setup above 50600 and gave a very good move after the pullback entry. It had a huge divergence with NIFTY. We discussed yesterday that index has given a range breakout in hourly TF above 50300 and good momentum is kicking in now. Tomorrow by any chance 50820 is tested then it will be an intra support. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52550. 2nd buying can be done from 50820. T- 51400. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 03 Jan 2023BANKNIFTY Intraday Trade Setup For 03 Jan 2023 Bullish-Above 48070 Invalid-Below 47960 T- 48510 48920 Bearish-Below 47680 Invalid-Above 47790 T- 47260 46900 BANKNIFTY has closed on bearish note with almost 1% cut today. On 28 Dec EOD it was discussed in the trade setup that index has formed a spinning top candle which can be a sign of bearish reversal below its low. Since then index is on correction mode. Next important support lies near 47100 zone. Coming to intraday it is bold bearish candle in daily TF so index has to sustain above 48070 which is the last line of defence (0.618). On a flat opening best trade will be in sell side below 47680. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48070 then we will long for the target of 48510 and 48920. For selling we need a 15 Min candle close below 47680. T- 47259 and 46900. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 28 Aug 2023BANKNIFTY Intraday Trade Setup For 28 Aug 2023 Bullish-Above 44360 Invalid-Below 44250 T- 44631 44950 Bearish-Below 44130 Invalid-Above 44240 T- 43825 43518 BANKNIFTY has closed with slight cut in the last trading session. Last week after sustaining above 44100 in the hourly TF it gave a very fantastic move till 44900. Now if it sustains above 45000 in daily TF then it will be a swing buy or bullish biased. While Friday's low is important for a downside move. However key level in daily TF is 43600. Sustaining below this will initiate a move towards 42600 and 42000. Between this daily range market will stay in sideways momentum and less directional intraday trades will be the right approach. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44360 then we will buy for the target of 44631 and 44950. Gap area will be important. For selling we need a 15 Min candle close below 44130. T- 43825 and 43518. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 12 Jun 2023BANKNIFTY Intraday Trade Setup For 12 Jun 2023 Buy-Above 44070 Sl-43965 T- 44288 44510 Sell-Below 43930 Sl- 44035 T- 43690 43290 BANKNIFTY has closed on with neutral gains last week but the sentiment was slightly bearish. It has formed a shooting star candle in daily and weekly TF both. Last week we discussed that index is inside the rising wedge pattern in hourly TF. Last week we gave a breakout of the pattern. Now below 43930 it will be active. Will trail till it makes a proper reversal structure in hourly TF. 43230 is important in the upside in case it reverses. High probability trade is in down side tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44288 and 44510. For selling we need a 15 Min candle close below 43930. T- 43690 and 43490. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
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