BANKNIFTY 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.
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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.
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.
