BANKNIFTY Intraday Trade Setup For 07 Dec 2023
Bullish-Above 46970
Invalid-Below 46860
T- 42260 47630
Bearish-Below 46750
Invalid-Above 46860
T- 46356 45938
BANKNIFTY has closed on a slight bearish note with 0.38% cut today. It traded between yesterday's range the whole day. Bullish sentiment will change when daily candle closes below PDL and that red candle's low will be breached. It can give us a good directional move on the breakout of 47260 and 46750 in 15 MIN TF. Be very alert on downside for a bullish reversal as mother sentiment is bullish. 46970 and 46750 are important levels for tomorrow's session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47260 then we will long for the target of 47630 and 48030.
For selling we need a 15 Min candle close below 46750. T- 46356 45938.
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 46970
Invalid-Below 46860
T- 42260 47630
Bearish-Below 46750
Invalid-Above 46860
T- 46356 45938
BANKNIFTY has closed on a slight bearish note with 0.38% cut today. It traded between yesterday's range the whole day. Bullish sentiment will change when daily candle closes below PDL and that red candle's low will be breached. It can give us a good directional move on the breakout of 47260 and 46750 in 15 MIN TF. Be very alert on downside for a bullish reversal as mother sentiment is bullish. 46970 and 46750 are important levels for tomorrow's session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47260 then we will long for the target of 47630 and 48030.
For selling we need a 15 Min candle close below 46750. T- 46356 45938.
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.
