BANKNIFTY Intraday Trade Setup For 4 Mar 2024
BANKNIFTY Intraday Trade Setup For 4 Mar 2024
Bullish-Above 47450
Invalid-Below 47340
T- 47950 48450
Buy_2- From 46645
Invalid-Below 46535
T- 47000 47450
BANKNIFTY has closed on a slight bullish note with 1% gain last week. It has given a strong breakout candle on Friday , it is the 2nd attempt to cross 46600 CB. Index seems ready for a fresh ATH journey again. But as of now it is near a trendline resistance if drawn from ATH. So a pullback scenario looks high as per current positioning before the start of impulse. It can test 46645 zone and this can be a buying zone with a very small sl.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47450 then we will long for the target of 47950 and 48450.
2nd buying can be done from 46645. T- 47000 and 47450.
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.
Bullish-Above 47450
Invalid-Below 47340
T- 47950 48450
Buy_2- From 46645
Invalid-Below 46535
T- 47000 47450
BANKNIFTY has closed on a slight bullish note with 1% gain last week. It has given a strong breakout candle on Friday , it is the 2nd attempt to cross 46600 CB. Index seems ready for a fresh ATH journey again. But as of now it is near a trendline resistance if drawn from ATH. So a pullback scenario looks high as per current positioning before the start of impulse. It can test 46645 zone and this can be a buying zone with a very small sl.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47450 then we will long for the target of 47950 and 48450.
2nd buying can be done from 46645. T- 47000 and 47450.
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.