BANKNIFTY Intraday Trade Setup For 12 Dec 2023
BANKNIFTY Intraday Trade Setup For 12 Dec 2023
Bullish-Above 47590
Invalid-Below 47680
T- 48013 48325
Bearish-Below 47180
Invalid-Above 47290
T- 46785 46350
BANKNIFTY has closed almost on a flat note with slight gain of 0.11% today. Buy triggered as per trade setup above 47310 and gave a good momentum till 47580 later turned sideways. Index sentiment is intact till our TSL in swing long (from 44450) is intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. And in that case there will be sentiment reversal from bullish to bearish. 47590 and 47180 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47590 then we will long for the target of 48013 and 48325.
For selling we need a 15 Min candle close below 47180. T- 46785 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 47590
Invalid-Below 47680
T- 48013 48325
Bearish-Below 47180
Invalid-Above 47290
T- 46785 46350
BANKNIFTY has closed almost on a flat note with slight gain of 0.11% today. Buy triggered as per trade setup above 47310 and gave a good momentum till 47580 later turned sideways. Index sentiment is intact till our TSL in swing long (from 44450) is intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. And in that case there will be sentiment reversal from bullish to bearish. 47590 and 47180 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47590 then we will long for the target of 48013 and 48325.
For selling we need a 15 Min candle close below 47180. T- 46785 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.
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