BANKNIFTY Intraday Trade Setup For 04 Dec 2023
Bullish-Above 44960
Invalid-Below 44850
T- 45281 45611
Bearish-Below 44750
Invalid-Below 44860
T- 44460 44120
BANKNIFTY has closed on a bullish note last week with 2.39% gain. Last week we discussed that 44450 is an important swing for a upside journey. Till now index has given almost 500 points run. One should trail with PDL on closing basis, below that red candle's low we will exit longs completely. Tomorrow above 44960 we will plan a bullish trade. In case 44750 is broken and bearish price structure in 5 Min TF is established.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44960 then we will long for the target of 45281 and 45611.
For selling we need a 15 Min candle close below 44750. T- 44460 and 44120.
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 44960
Invalid-Below 44850
T- 45281 45611
Bearish-Below 44750
Invalid-Below 44860
T- 44460 44120
BANKNIFTY has closed on a bullish note last week with 2.39% gain. Last week we discussed that 44450 is an important swing for a upside journey. Till now index has given almost 500 points run. One should trail with PDL on closing basis, below that red candle's low we will exit longs completely. Tomorrow above 44960 we will plan a bullish trade. In case 44750 is broken and bearish price structure in 5 Min TF is established.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44960 then we will long for the target of 45281 and 45611.
For selling we need a 15 Min candle close below 44750. T- 44460 and 44120.
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.
