BANKNIFTY Intraday Trade Setup For 14 Dec 2023
Bullish-Above 47210
Invalid-Below 47100
T- 47454 47735
Bearish-Below 46880
Invalid-Above 46990
T- 46485 46155
BANKNIFTY has closed on an absolute flat note today. Sell triggered as per trade setup below 47000 and gave 1:1 move till 46887 and later hit trailing sl (cost) and reversed. Our swing long position (from 44450) was closed today @47000 as per the opted TSL. It has formed a pin-bar in daily TF so above 47210 we can expect a bullish move towards ATH. below 46880 bears will take charge. A sideways market is pretty much obvious between 47250 and 46880.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 47210 then we will long for the target of 47454 and 47735.
For selling we need a 15 Min candle close below 46880. T- 46484 and 46155.
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 47210
Invalid-Below 47100
T- 47454 47735
Bearish-Below 46880
Invalid-Above 46990
T- 46485 46155
BANKNIFTY has closed on an absolute flat note today. Sell triggered as per trade setup below 47000 and gave 1:1 move till 46887 and later hit trailing sl (cost) and reversed. Our swing long position (from 44450) was closed today @47000 as per the opted TSL. It has formed a pin-bar in daily TF so above 47210 we can expect a bullish move towards ATH. below 46880 bears will take charge. A sideways market is pretty much obvious between 47250 and 46880.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 47210 then we will long for the target of 47454 and 47735.
For selling we need a 15 Min candle close below 46880. T- 46484 and 46155.
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.
