BANKNIFTY Trade Setup for Wednesday (04-Wed-2024)

Key Notes:

• Bank nifty swept previous day Buy Side Liquidity (BSL) indicating probable downfall,
  
• Price is under higher time frame (H4) Institutional reference levels
  

Institutional references identified

• Bearish Order Block
  
• Bearish Mitigation Block
  
• Buy Side Liquidity (BSL)
  

• Bank Nifty Futures OI data indicating strong bullish bias
  
• Most Likely Bank nifty is going to give a strong breakout from institutional reference levels
  
• Morning Session price may open with strong gap up.
  
• If gap up is strong enough to break all the key levels, Entire day bullish view
  
• If gap up is held strongly by bearish order block, then price is going to take a sharp downfall.
  
• Those who carried shorts for delivery yesterday going to experience some pain today.