BANKNIFTY Intraday Trade Setup For 16 Apr 2024
BANKNIFTY Intraday Trade Setup For 16 Apr 2024
Sell_1- From 48260
Invalid-Above 48370
T- 48000 47750
Sell_2- Below 47700
Invalid-Above 47810
T- 47095
BANKNIFTY has closed on a complete bearish note with 1.63% cut today. We discussed in the weekend that index will be under bear's grip below 48400 (last week candle's low) as it was 2nd leg shooting star which I personally trade. But the funny thing is that it triggered with a big gap down. So one should wait for 48600 zone for taking the same into consideration. Tomorrow there is a possibility of a pullback of the down impulse.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47700 then we will short for the target of 47095.
In case 48260 is tested via gap up move then we will short from there. T- 48000 and 47750.
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.
Sell_1- From 48260
Invalid-Above 48370
T- 48000 47750
Sell_2- Below 47700
Invalid-Above 47810
T- 47095
BANKNIFTY has closed on a complete bearish note with 1.63% cut today. We discussed in the weekend that index will be under bear's grip below 48400 (last week candle's low) as it was 2nd leg shooting star which I personally trade. But the funny thing is that it triggered with a big gap down. So one should wait for 48600 zone for taking the same into consideration. Tomorrow there is a possibility of a pullback of the down impulse.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47700 then we will short for the target of 47095.
In case 48260 is tested via gap up move then we will short from there. T- 48000 and 47750.
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.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.