BANKNIFTY Intraday Trade Setup For 4 Sep 2024
BANKNIFTY Intraday Trade Setup For 4 Sep 2024
Bullish-Above 51750
Invalid-Below 51640
T- 52260
Bearish-Below 51250
Invalid-Above 51360
T- 50735
BANKNIFTY has closed on a bullish note with 0.49% gain today. After 2 days of complete rangebound market it gave a breakout in the bullish side today. In the weekend itself we discussed that index is heading towards 52k zone after breakout of 50800 in daily TF. Tomorrow 52k can be achieved after that one should trail to ride till 52260 zone. Downside level looks a bit far so maintain non-directional approach between 51800 and 51250.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51750 then we will long for the target of 52260.
For selling we need a 15 Min candle close below 51250. T- 50735.
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 51750
Invalid-Below 51640
T- 52260
Bearish-Below 51250
Invalid-Above 51360
T- 50735
BANKNIFTY has closed on a bullish note with 0.49% gain today. After 2 days of complete rangebound market it gave a breakout in the bullish side today. In the weekend itself we discussed that index is heading towards 52k zone after breakout of 50800 in daily TF. Tomorrow 52k can be achieved after that one should trail to ride till 52260 zone. Downside level looks a bit far so maintain non-directional approach between 51800 and 51250.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51750 then we will long for the target of 52260.
For selling we need a 15 Min candle close below 51250. T- 50735.
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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