BANKNIFTY Intraday Trade Setup For 3 May 2024 | Loksabha Trading
BANKNIFTY Intraday Trade Setup For 3 May 2024
Bullish-Above 49150
Invalid-Below 49000
T- 50570 52170
BANKNIFTY has closed on a neutral note last week unlike NIFTY being on a slight bearish note. This means that there is a divergence of strength which will lead BANKNIFTY being stronger than NIFTY in the coming days. As per Exit Polls it looks that there can a huge short covering rally ahead of result day. In the coming days 52250 zone can be tested. High chance of a big gap up on Monday so follow 10 o'clock range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 49150 then we will long for the target of 52170.
High chance of a gap up so follow 10 o'clock range to build trade with calculated risk.
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 49150
Invalid-Below 49000
T- 50570 52170
BANKNIFTY has closed on a neutral note last week unlike NIFTY being on a slight bearish note. This means that there is a divergence of strength which will lead BANKNIFTY being stronger than NIFTY in the coming days. As per Exit Polls it looks that there can a huge short covering rally ahead of result day. In the coming days 52250 zone can be tested. High chance of a big gap up on Monday so follow 10 o'clock range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 49150 then we will long for the target of 52170.
High chance of a gap up so follow 10 o'clock range to build trade with calculated risk.
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.