BANKNIFTY Intraday Trade Setup For 11 Dec 2023
Bullish-Above 47310
Invalid-Below 47200
T- 47687 48055
Bearish-Below 47100
Invalid-Above 47210
T- 46725 46350
BANKNIFTY has closed on bold bullish note last week with 5.46% gain. On 27 Nov (trade setup) EOD we planned a bullish trade above 44450 and a chance of a fresh ATH was also discussed. It has violently made a fresh ATH and now opted TSL is PDL. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. Tomorrow on flat opening above 47310 bullish move will continue. 47100 is a confluence level. Breakdown after support validation will trigger a intraday fall.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 47310 then we will long for the target of 47687 and 48055.
For selling we need a 15 min candle close below 47100. T- 46725 and 46350.
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 47310
Invalid-Below 47200
T- 47687 48055
Bearish-Below 47100
Invalid-Above 47210
T- 46725 46350
BANKNIFTY has closed on bold bullish note last week with 5.46% gain. On 27 Nov (trade setup) EOD we planned a bullish trade above 44450 and a chance of a fresh ATH was also discussed. It has violently made a fresh ATH and now opted TSL is PDL. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. Tomorrow on flat opening above 47310 bullish move will continue. 47100 is a confluence level. Breakdown after support validation will trigger a intraday fall.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 47310 then we will long for the target of 47687 and 48055.
For selling we need a 15 min candle close below 47100. T- 46725 and 46350.
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.
