BANKNIFTY Intraday Trade Setup For 9 Aug 2024
BANKNIFTY Intraday Trade Setup For 9 Aug 2024
Bullish-Above 50450
Invalid-Below 50340
T- 51000
Bearish-Below 49650
Invalid-Above 49760
T- 48750
BANKNIFTY has closed on a flat note today. We have formed a hourly range of of 50750 and 49650. Also if we draw trendlines in hourly TF then a triangle formation is in progress. 50700 and 49650 is the mother candle's high as inside candles have been formed in these last 2 sessions. 50450 and 49650 are intraday levels for tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50450 then we will long for the target of 51000 zone.
For selling we need a 15 Min candle close below 49650. T- 48750.
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 50450
Invalid-Below 50340
T- 51000
Bearish-Below 49650
Invalid-Above 49760
T- 48750
BANKNIFTY has closed on a flat note today. We have formed a hourly range of of 50750 and 49650. Also if we draw trendlines in hourly TF then a triangle formation is in progress. 50700 and 49650 is the mother candle's high as inside candles have been formed in these last 2 sessions. 50450 and 49650 are intraday levels for tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50450 then we will long for the target of 51000 zone.
For selling we need a 15 Min candle close below 49650. T- 48750.
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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