BANKNIFTY Intraday Trade Setup For 14 Aug 2024
BANKNIFTY Intraday Trade Setup For 14 Aug 2024
Sell_1- From 50440
Invalid-Above 50550
T- 48900
Sell_2- Below 49700
Invalid-Above 49810
T- 48900
BANKNIFTY has closed on a bearish note with 1.48% cut today. Index has been trading between 54800 and 49700 in daily TF since last 7 sessions. Breakout will give us the next directional move with momentum. As of now index looks ready to dive below 49700. 48900 will be 1st target if sell triggers tomorrow. As stated many time index is still sell on rise, follow the same approach.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 4700 then we will long for the target of 48900.
In case of a gap up we will short from 50440. T- 49800.
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.
Sell_1- From 50440
Invalid-Above 50550
T- 48900
Sell_2- Below 49700
Invalid-Above 49810
T- 48900
BANKNIFTY has closed on a bearish note with 1.48% cut today. Index has been trading between 54800 and 49700 in daily TF since last 7 sessions. Breakout will give us the next directional move with momentum. As of now index looks ready to dive below 49700. 48900 will be 1st target if sell triggers tomorrow. As stated many time index is still sell on rise, follow the same approach.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 4700 then we will long for the target of 48900.
In case of a gap up we will short from 50440. T- 49800.
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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