BANKNIFTY Intraday Trade Setup For 26 Apr 2024
BANKNIFTY Intraday Trade Setup For 26 Apr 2024
Bullish-Above 48650
Invalid-Below 48540
T- 48250
Bearish-Below 48050
Invalid-Above 48160
T- 47550
BANKNIFTY has closed on a bullish note with 0.63% gain today. It opened with a big gap down of 400 points and then recovered immediately and ended closing near day high. Seeing today's daily candle if index flat tomorrow and then above 48650 we will get a clear move towards 49250 which may act as resistance. 48070 will act as an intraday support. Below 48050 bears will take charge.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of 49250.
For selling we need a 15 Min candle close below 48050. T- 47550.
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 48650
Invalid-Below 48540
T- 48250
Bearish-Below 48050
Invalid-Above 48160
T- 47550
BANKNIFTY has closed on a bullish note with 0.63% gain today. It opened with a big gap down of 400 points and then recovered immediately and ended closing near day high. Seeing today's daily candle if index flat tomorrow and then above 48650 we will get a clear move towards 49250 which may act as resistance. 48070 will act as an intraday support. Below 48050 bears will take charge.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of 49250.
For selling we need a 15 Min candle close below 48050. T- 47550.
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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