BANKNIFTY Intraday Trade Setup For 4 Jul 2024

BANKNIFTY Intraday Trade Setup For 4 Jul 2024

Bullish-Above 53260
Invalid-Below 53150
T- 53835

Bearish-Below 52800
Invalid-Above 52910
T- 52350

BANKNIFTY has closed on a bullish note with 1.77% gain today. It opened with a big gap up and post 10:30 AM index went in very small range. Since it has closed at ATH level after 6 days. Tomorrow above 53260 there can be a good move 53260. Potential targets can be till 54370, 53835 as midway target. Below 52800 there can be bearish grip however it is less probable.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 53260 then we will long for the target of 53835 and 54370.

For selling we need a 15 Min candle close below 52800. T- 52350.

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.