BANKNIFTY Intraday Trade Setup For 14 Mar 2024
Bullish-Above 47250
Invalid-Below 47140
T- 47850
Bearish-Below 46840
Invalid-Above 46950
T- 46218 45640
BANKNIFTY has closed on a bearish note with 0.64% cut today. However BANKS were defending NIFTY or else NIFTY would have tanked much more resulting into pure panic selling. Sell triggered as per trade setup below 47180 and gave a move till 46850. Tomorrow 47250 will be important level for upside if broken. In case it 46840 is broken in the downside after flat opening then we can see good intraday fall towards 46210.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47250 then we will long for the target of 47855.
For selling we need a 15 Min candle close below 46840. T- 46218 and 45640.
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 47250
Invalid-Below 47140
T- 47850
Bearish-Below 46840
Invalid-Above 46950
T- 46218 45640
BANKNIFTY has closed on a bearish note with 0.64% cut today. However BANKS were defending NIFTY or else NIFTY would have tanked much more resulting into pure panic selling. Sell triggered as per trade setup below 47180 and gave a move till 46850. Tomorrow 47250 will be important level for upside if broken. In case it 46840 is broken in the downside after flat opening then we can see good intraday fall towards 46210.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47250 then we will long for the target of 47855.
For selling we need a 15 Min candle close below 46840. T- 46218 and 45640.
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.
