BANKNIFTY Intraday Trade Setup For 2 Sep 2024
BANKNIFTY Intraday Trade Setup For 2 Sep 2024
Bullish-Above 51470
Invalid-Below 51360
T- 51850
Bearish-Below 51250
Invalid-Above 51360
T- 50770
BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850.
For selling we need a 15 Min candle close below 51250. T- 50770.
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 51470
Invalid-Below 51360
T- 51850
Bearish-Below 51250
Invalid-Above 51360
T- 50770
BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850.
For selling we need a 15 Min candle close below 51250. T- 50770.
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.
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