BANKNIFTY Intraday Trade Setup For 3 May 2024 | Loksabha TradingBANKNIFTY Intraday Trade Setup For 3 May 2024
Bullish-Above 49150
Invalid-Below 49000
T- 50570 52170
BANKNIFTY has closed on a neutral note last week unlike NIFTY being on a slight bearish note. This means that there is a divergence of strength which will lead BANKNIFTY being stronger than NIFTY in the coming days. As per Exit Polls it looks that there can a huge short covering rally ahead of result day. In the coming days 52250 zone can be tested. High chance of a big gap up on Monday so follow 10 o'clock range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 49150 then we will long for the target of 52170.
High chance of a gap up so follow 10 o'clock range to build trade with calculated risk.
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.
