BANKNIFTY Intraday Trade Setup For 15 Mar 2024
BANKNIFTY Intraday Trade Setup For 15 Mar 2024
Bullish-Above 47250
Invalid- Below 47140
T- 48040
Bearish-Below 46550
Invalid-Above 46660
T- 45930 45360
BANKNIFTY has closed on a bearish note with 0.41% cut today. Index is at a decisive level, 50 EMA in daily TF. If it all it has to take support then 46550 should be safe and should make a bullish price structure. In hourly TF it has maintained a falling channel, breakout will confirm 50 EMA support. Below 46550 there can be panic selling. 46950 will be an important internal level.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47250 then we will long for the target of 48040.
For selling we need a 15 Min candle close below 46550. T- 45930 and 45350.
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 47250
Invalid- Below 47140
T- 48040
Bearish-Below 46550
Invalid-Above 46660
T- 45930 45360
BANKNIFTY has closed on a bearish note with 0.41% cut today. Index is at a decisive level, 50 EMA in daily TF. If it all it has to take support then 46550 should be safe and should make a bullish price structure. In hourly TF it has maintained a falling channel, breakout will confirm 50 EMA support. Below 46550 there can be panic selling. 46950 will be an important internal level.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47250 then we will long for the target of 48040.
For selling we need a 15 Min candle close below 46550. T- 45930 and 45350.
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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