BANKNIFTY Intraday Trade Setup For 22 Mar 2024
BANKNIFTY Intraday Trade Setup For 22 Mar 2024
Bullish-Above 47000
Invalid-Below 46890
T- 47615
Bearish-Below 46550
Invalid-Above 46660
T- 46050 45640
BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below today's low- 46550 we can see a good down move towards 46000. This week looks as it will hover near 50 EMA in daily TF. Possibility of a upmove looks less as per today's daily candle. However above 47000 we will plan bullish trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47000 then we will long for the target of 47615.
For selling we need a 15 Min candle close below 46550. T- 46050 and 45640.
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 47000
Invalid-Below 46890
T- 47615
Bearish-Below 46550
Invalid-Above 46660
T- 46050 45640
BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below today's low- 46550 we can see a good down move towards 46000. This week looks as it will hover near 50 EMA in daily TF. Possibility of a upmove looks less as per today's daily candle. However above 47000 we will plan bullish trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47000 then we will long for the target of 47615.
For selling we need a 15 Min candle close below 46550. T- 46050 and 45640.
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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