BANKNIFTY Intraday Trade Setup For 1 Mar 2024
Bullish-Above 46350
Invalid-Below 46240
T- 46900 47425
Bearish-Below 45650
Invalid-Above 45760
T- 45000 44400
BANKNIFTY has closed on a slight bullish note with 0.34% gain today. It as the worst price action day in intraday. Most of the moves were random to decay premiums from both sides. The daily candle does not cater a strong sentiment. The plotted trendline can be a potential hurdle. After a pullback from this trendline we we get a breakout above 46350 then we will consider bullish trade. Below 45650 it can test round level 45k.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46350 then we will long for the target of 46900 and 47425.
For selling we need a 15 Min candle close below 45650. T- 45000 and 44400.
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 46350
Invalid-Below 46240
T- 46900 47425
Bearish-Below 45650
Invalid-Above 45760
T- 45000 44400
BANKNIFTY has closed on a slight bullish note with 0.34% gain today. It as the worst price action day in intraday. Most of the moves were random to decay premiums from both sides. The daily candle does not cater a strong sentiment. The plotted trendline can be a potential hurdle. After a pullback from this trendline we we get a breakout above 46350 then we will consider bullish trade. Below 45650 it can test round level 45k.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46350 then we will long for the target of 46900 and 47425.
For selling we need a 15 Min candle close below 45650. T- 45000 and 44400.
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.
