BANKNIFTY Intraday Trade Setup For 16 Jul 2024
BANKNIFTY Intraday Trade Setup For 16 Jul 2024
Bullish-Above 52820
Invalid-Below 52710
T- 53315
Bearish-Below 52130
Invalid-Above 52240
T- 51600
BANKNIFTY has closed with a slight gain of 0.34% gain today. It has formed a neutral candle in daily TF also nothing triggered as per trade setup. It was said in weekend that weekly range is 52800 and 51700, we need to maintain non-directional approach till index is inside this range. For tomorrow, a zone a has been formed. 52820 and 52130 are levels to watch out.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53315.
For selling we need a 15 Min candle close below 52130. T- 51600.
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 52820
Invalid-Below 52710
T- 53315
Bearish-Below 52130
Invalid-Above 52240
T- 51600
BANKNIFTY has closed with a slight gain of 0.34% gain today. It has formed a neutral candle in daily TF also nothing triggered as per trade setup. It was said in weekend that weekly range is 52800 and 51700, we need to maintain non-directional approach till index is inside this range. For tomorrow, a zone a has been formed. 52820 and 52130 are levels to watch out.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53315.
For selling we need a 15 Min candle close below 52130. T- 51600.
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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