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Bankniftyintradaytradesetup

Banknifty weekly & intraday levels for 08/01/24.Inside candle is formed on the weekly charts and Banknifty has closed only 130 points lower. There is a doji week and daily candle. 47400 is a major support level on the daily close. If market starts closing below it there will be a M pattern formtaion and selling can happen. Currently, it has closed around 61.8% daily fib. Reversal or bearish trades for intraday can be initiated as per the price action around the level. Major bearish targets. :- 47810, 47560 Trailing SL should be taken in a bearish trades for holding as there can be chance of it being a winning trade. Resistance :- 48380-400, 48620 47810-48400 is a no trading zone for tomorrow, if the market takes a halt between the levels there will be a time decay in the option. Short OTM strangle can be created while rolling up or down the leg. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 08 Jan 2023BANKNIFTY Intraday Trade Setup For 08 Jan 2023 Bullish-Above 48400 Invalid-Below 48290 T- 48730 49150 Bearish-Below 47820 Invalid-Above 47930 T- 47370 46900 BANKNIFTY has closed almost on a flat note with minor cut of 0.28% last week. Since last 4 weeks index has been in consolidation mode. Last week was another contraction week where it has formed an inside candle. Index will rally above the recent high of 48650. It will initiate a move towards 45k. 47480 is an important hourly swing low below which a downside journey will start. In between 48650 and 47480 index will be sideways more or less. 48400 and 47820 are important levels for next session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48400 then we will long for the target of 48730 and 49548. For selling we need a 15 Min candle close below 47820. T- 47370 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 | 8th Jan '24Today BankNifty opened with a gap-up above our buy level of 48250 and struggled at upper levels, we saw profit booking around 48400. BankNifty triggered our sell level 47950 and hit the 1st target. For Monday, BankNifty has to sustain above 48450 for further upside which can take BankNifty towards 48570 and upper levels. On the other side, if BankNifty breaks 47950 again on downside, we expect to see 47840 and below marked levels on the chart. Between this zone, trading will be tricky so better to avoid. Expectations: Volatile day. Intraday Levels: Buy Above - 48450 Sell Below - 47950 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BANKNIFTY Intraday Trade Setup For 05 Jan 2023BANKNIFTY Intraday Trade Setup For 05 Jan 2023 Bullish-Above 48290 Invalid-Below 48180 T- 48589 48920 Bearish-Below 47940 Invalid-Above 48050 T- 47620 47259 BANKNIFTY has closed on a bullish note with more than 1% gain today. Buy triggered as per trade setup above 47800 and hit first target very smoothly. Trade gave more than 400 points gain. Momentum was quite strong which tells that the current trend is in buyers hand, just check the last 2 days momentum in the downside. Tomorrow once again there can be good bullish move above 48290. For a bearish action it has to sustain below 47940. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 48290 then we will long for the target of 48590 and 48920. For selling we need a 15 Min candle close below 47940. T- 47620 and 47260. 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
Bank Nifty - 05/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 05/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48070 – 48090 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48090 Resistance-1: 48420 Support-2: 47965 Resistance-2: 48500 Support-3: 47800 Resistance-3: 48600 Big-Support: 47500 Big- Resistance: 48600 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
BANKNIFTY Intraday Trade Setup For 4 Jan 2023BANKNIFTY Intraday Trade Setup For 4 Jan 2023 Bullish-Above 47800 Invalid- Below 47690 T- 48178 48510 Bearish-Below 47550 Invalid-Above 47660 T- 47260 46900 BANKNIFTY has closed almost on a flat note with a minor cut of 0.12%. Sell triggered below 47680 which ended near cost EOD. There was a sharp bounce from round level 47500. So bulls will give up below 47500 and may invite bears to take charge again. It has formed a Pinbar candle which indicates a bullish sign so above today's high there can be good bullish move. Probability of a BANKNIFTY bottoming out from 47400 zone is high. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47800 then we will long for the target of 48178 and 48510. For selling we need a 15 Min candle close below 47550. 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
Bank Nifty - 04/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 04/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 47675 – 47690 Important Support and Resistance for the Day... Support - Resistance - Support-1: 47675 Resistance-1: 47878 Support-2: 47500 Resistance-2: 48110 Support-3: 47407 Resistance-3: 48216 Big-Support: 47200 Big- Resistance: 48450 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
BankNifty Intraday Trade Setup | 2nd Jan '24BankNifty opened flat today and remained in a range for sometime. BankNifty broke the upper level of 48300 and made a high at 48450 which acted as rejection zone and we saw a fall of around 400 points in last 30 mins. For tomorrow, if BankNifty breaks 48100 on the downside, we expect to see 47980 and below levels marked. On the other side, if BankNifty sustains above 48450 we will see fresh buying towards 48580 and upper marked levels on the chart. Expectations: Volatile Day Intraday Levels: Buy Above - 48450 Sell Below - 48100 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
Bank Nifty - 02/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 Bank Nifty - 02/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48234 - 48250 Possibilities of Today market open... Support - Resistance - Support-1: 48044 Resistance-1: 48134 Support-2: 47944 Resistance-2: 48235 Support-3: 47877 Resistance-3: 48297 Support-4: 47767 Resistance-4: 48297 Big-Support: 47500 Big- Resistance: 48448 _______________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
BANKNIFTY Intraday Trade Setup For 01 Jan 2023BANKNIFTY Intraday Trade Setup For 01 Jan 2023 Bullish-Above 48390 Invalid-Below 48280 T- 48785 49185 Bearish-Below 48090 Invalid-Above 48200 T- 47710 47315 BANKNIFTY has closed on a bold bullish note last month with 8.57% gain. Its a very strong closing in weekly TF too. It has given a pullback move in the last 2 sessions. Breakout of this channel pattern will initiate an impulse. It has to sustain above 48400. However momentum will come above Friday's high. Expected move can be 500 points. 48090 is equally important for downside. 49185-200 and 47315 are important resistance and support zone. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 48390 then we will long for the target of 48785 and 49185. For selling we need a 15 min candle close below 48090. T- 47710 and 47315. 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. Happy New Year In Advance
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 29 Dec 2023BANKNIFTY Intraday Trade Setup For 29 Dec 2023 Bullish-Above 48650 Invalid-Below 48540 T- 49025 49440 Bearish-Below 48340 Invalid-Above 48450 T- 47952 47575 BANKNIFTY has closed on a bullish note with 0.47% gain today. It opened above our buy level with a gap up. 10 O'clock range was to be used as per trade setup. But nothing triggered as per that, whole day it traded between 10 o'clock range. Momentum dropped drastically due to VIX cool off. It has formed a Spinning top candle in daily TF which is halt sign. Below today's low it can be a reversal sign in very short or in intraday. Tomorrow we will trade on today's range breakout . 48650 and 48340 are important levels for next session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of For selling we need a 15 Min candle close below 48340. T- 47950 and 47575. 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 | 28th DecToday BankNifty opened with a gap-up around 47850 and we saw a breakout above 48000 in the morning session which took BankNifty towards 48250 zones but profit booking was seen from the upper levels. BankNifty again took support near 47900 odd levels and gave rally towards 48350 by breaking a previous high. For tomorrow, if BankNifty sustains above 48400, we expect to see further up move towards 48520 and upper marked levels. On the other side, if BankNifty breaks 48070 on the downside, we may see 47960 and below marked levels. Expectations: Volatile Day Intraday Levels: Buy Above - 48400 Sell Below - 48070 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
6
BANKNIFTY Intraday Trade Setup For 29 Dec 2023BANKNIFTY Intraday Trade Setup For 29 Dec 2023 Bullish-Above 48350 Invalid-Below 48240 T- 48730 49150 Bearish-Below 47880 Invalid-Above 47990 T- 47570 47207 BANKNIFTY has closed on a positive note with 1.17% gain today. Buy triggered as per trade setup above 47840 and hit our 1st target very smoothly (47840-48347). Tomorrow we can expect bullish continuation as it has closed at ATH. Above 48350 it can test 48750 zone and wild case 49150. Tomorrow it is the last expiry of the year, so may result in some volatility so be very strict with TSLs. 47880 is the level for a downside trigger. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 48350 then we will long for the target of 48730 and 49150. For selling we need a 15 Min candle close below 47880. T- 47570 and 47200. 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 27 Dec 2023BANKNIFTY Intraday Trade Setup For 27 Dec 2023 Bullish-Above 47840 Invalid-Below 47730 T- 48220 48632 Bearish-Below 47400 Invalid-Above 47510 T- 47029 46685 BANKNIFTY has closed on a bullish note with 0.49% gain today. Buy triggered as per trade setup which ended with no profit no loss as EOD it near cost. After taking support from previous day low it was completely sideways for the rest of the day. In the weekend analysis we had already discussed that index is contracting in hourly TF so momentum will come after its breakout. Tomorrow 47840 and 47400 are important levels to plan trades. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47840 then we will long for the target of 48220 and 48632. For selling we need a 15 Min candle close below 47400. T- 47029 and 46685. 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 26 Dec 2023BANKNIFTY Intraday Trade Setup For 26 Dec 2023 Bullish-Above 47750 Invalid-Below 47640 T- 48117 48478 Bearish-Below 47410 Invalid-Above 47520 T- 47050 46720 BANKNIFTY has closed on a slight bearish note with 1.35% cut last week. After 4 weeks of rally it has taken a pause. 48220 is a short term top above which the next leg of rally will be triggered for 50k. 43900 is a major hourly support, breakdown will take BANKNIFTY to 46300 zone for a retest scenario. In hourly TF it more or less contracting to form an apex. 47750 and 47410 are important levels for tomorrow's session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47750 then we will long for the target of 48117 and 48478. For selling we need a 15 Min candle close below 47410. T- 47050 46720. 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 22 Dec 2023BANKNIFTY Intraday Trade Setup For 22 Dec 2023 Bullish-Above 47950 Invalid-Below 47840 T- 48335 48750 Bearish-Below 47330 Invalid-Above 47440 T- 46915 46485 BANKNIFTY has closed on a bullish note with 0.83% gain today. Yesterday it was said that there is a probability of pullback which happened very effectively. Only problem was the gap down opening and sell triggered which hit sl. However 10 o'clock range was to be used and range broke upside above 47250 and reached till yesterday's half bat plotted. As the Vix has shot up the volatility is insane in the last 2-3 days. 47950 and 47330 are important levels for tomorrow's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47950 then we will long for the target of 48335 and 48750. For selling we need a 15 Min candle close below 47330. T- 46915 and 46485. 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 21 Nov 2023BANKNIFTY Intraday Trade Setup For 21 Nov 2023 Sell_1- From 47805 Invalid-Above 47915 T- 47500 47200 Sell_2- 47200 Invalid-Above 47310 T- 46850 46485 BANKNIFTY has closed on a bold bearish note with 0.89% cut. It opened with a gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 48015 , last swing high was 48160. Trade gave a mega move till 47203. Tomorrow there is a fair chance of pullback till 47805 and 0.618 can act as an intraday resistance. On a flat opening below 47200 there can be another round of selling. Hourly support lies near 46850 zone. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle close below 47200 then we will short. T- 46850 and 46485. 2nd selling will be from 47805. T- 47500 and 47200. 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 20 Dec 2023BANKNIFTY Intraday Trade Setup For 20 Dec 2023 Bullish-Above 48020 Invalid-Below 47910 T- 48250 48575 Bearish-Below 47640 Invalid-Above 47750 T- 47420 47160 BANKNIFTY has closed has closed on a flat note today. Sell triggered as per trade setup below 47800 and gave a small move till 47647 then intraday price structure changed and reversed till day high. It has formed a Pin bar candle in daily TF so above 48020 we can expect a good move. For selling 47640 is the level but 47780 will be equally important to watch out. In the coming days 47600 will be an important level in hourly TF. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48020 then we will long for the target of 48250 and 48575. For selling we need a 15 min candle close below 47640. T- 47420 and 47160. 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 19 Dec 2023BANKNIFTY Intraday Trade Setup For 19 Dec 2023 Bullish-Above 47980 Invalid-Above 47870 T- 48220 48565 Bearish-Below 47800 Invalid-Above 47910 T- 47420 47150 BANKNIFTY has closed on a bearish note with 0.57% cut today. It opened with a slight cut and traded overall in a range. Sell triggered as per trade setup below 47890 which closed near to cost EOD due to the sideways momentum. On a flat opening best trade looks in the sell side. Below 47800 there can be a decent sell off till 47420. For a buying case it has to sustain above 47980. However bullish move with momentum will come above 48220 only. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 47980 then we will long for the target of 48220 and 48565. For selling we need a 15 min candle close below 47800. T- 47420 and 47150. 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 18 Dec 2023BANKNIFTY Intraday Trade Setup For 18 Dec 2023 Bullish-Above 48220 Invalid-Below 48110 T- 48565 48920 Bearish-Below 47890 Invalid-Above 48000 T- 47510 47190 BANKNIFTY has closed on a bullish note last week with 1.87% gain last week. It was a bit messy up move as thats how a typical bull run happens. Bulls are ready to take BANKNIFTY till 50650. Till then all dips will be bought. Best outlook is to find bullish reversal trades in intraday if a dip served. No point in looking for reversal positionally till we get a bold bearish candle or sentiment on weekly charts. 48220 and 47890 are important levels for next session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48220 then we will long for the target of 48565 and 48920. For selling we need a 15 Min candle close below 47890. T- 47510 and 47190. 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