BANKNIFTY Intraday Trade Setup For 29 Jul 2024BANKNIFTY Intraday Trade Setup For 29 Jul 2024
Bullish-Above 51400
Invalid-Below 51290
T- 51950
Buy-From 50845
Invalid-Below 50735
T- 51300
BANKNIFTY has closed on a slight bearish note with 1.86% cut last week. On Friday there was buying from opening itself, it was Open=Low day. It has taken support from 50 EMA in daily TF. Now above 51400 this bounce can be extended at least towards 52K zone. Below 50350 in daily TF it will be bearish in short term. Best trade will be in bullish side tomorrow if we get a slight pullback before breakout of 51400. 50845 can be intra support.
Coming to Monday's trade setup, if index opens opens flat and a 15 Min candle closes above 51400 then we will long for the target of 51950-52k
2nd buying can be done from 50845. T- 51300.
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.
Bankniftyoutlook
BANKNIFTY Weekly Outlook + Intraday Trade Setup for 2 May 2022BANKNIFTY Intraday Trade Setup For 2 May 2022
Sell_1- Below 35970
Sl-36100
T-35800 35600
Sell_2- From 36550
Sl-36650
T-36400 36200
BANKNIFTY has formed a bearish engulfing candle in daily TF. 200 EMA is flat in daily TF, sideways trend. Important level for a range shift is 35500 in the lower side and 37000 in upper side.
Coming to Monday's trade setup, we will look for selling opportunity. If index opens flat and breaks 35970 then sell for the target of 35800 and 35600. This trade will be active and ideal only on flat opening.
Second sell position can be opened from 36550 level. Sl will be small here. Targets will be 36400,36300 and 36000. Long will be considered above 36720 if a 15 Min candle closes above this.
In case we open with a big gap down, if 1st candle is a bullish reversal candle then will buy above candle high.
If we open gap up then best opportunity will not be there , it result in a range bound market.
Weekly Outlook
35500 is a crucial support level below this we can see a good fall. Target will be opened for 34300.
If a a daily candle closes above 37000 and a follow up is seen then a can see a good upside momentum. Targets will be opened for 38000 and 39000.
A shooting star candle is formed in monthly TF.
Breakdown of 35500 can trigger a good downside momentum.
BankNifty view for the week of 3rd - 7th JanuaryHappy New Year All,
Last week:
We saw a climb from 34230 levels making a nice structural set up for a potential move.
This week:
Our entry point on the North side is above 35700 with T1 at 36000 and SL 35480 making it a good RR.
Down south, entry is only below 33900 as we have seen support at 34000 previously, The target there is a good 600 points
Between 35700 and 33900, you will not be able to carry your position as the premium decay will be bad.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Entry Plan for BANKNIFTY 56000 Target We have completed 5 Wave move Up since Covid Fall and now in making of 5-3-5 Corrective pattern ((A)) ((B)) ((C)).
Its too Early to confirm Connector ((B)) is completed however assuming it is done, we can now expect making of wave ((C)) Black is in process and we can have entry planned @ 31080 Level with target to en-cash Next Up move of Wave III red.
Trade Plan : Well In advance
Entry : 31080
Stop Loss : 27000
Target : 56000
BankNifty view for the week of 6th - 10th DecemberGood evening all,
Last week:
We were able to achieve our 1st target within a mater minutes on Monday and then snuck into the range we had marked between SL and Target.
This week:
The range this time is huge, 2000 points and may see the week within that making us wait and watch. On either side 37200 and 35300m the RER is good and make us earn between 300-500 points.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
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