BANKNIFTY Intraday Trade Setup For 29 May 2024
BANKNIFTY Intraday Trade Setup For 29 May 2024
Bullish-Above 49350
Invalid-Below 49240
T- 49775
Bearish-Below 49040
Invalid-Above 49150
T- 48450
BANKNIFTY has closed on a bearish note with 0.28% cut today. Yesterday we discussed that chances of index being inside 49700 and 49000 is high, so has happened today. Now tomorrow chances of a trendy move tomorrow. Below 49000 index may slip towards 48450 zone. Above 49350 chances of a upmove is also there. Be ready for both side moves ahead of major event.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 49350 then we will long for the target of 49800.
For selling we need a 15 Min candle close below 49040. T- 48450.
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 49350
Invalid-Below 49240
T- 49775
Bearish-Below 49040
Invalid-Above 49150
T- 48450
BANKNIFTY has closed on a bearish note with 0.28% cut today. Yesterday we discussed that chances of index being inside 49700 and 49000 is high, so has happened today. Now tomorrow chances of a trendy move tomorrow. Below 49000 index may slip towards 48450 zone. Above 49350 chances of a upmove is also there. Be ready for both side moves ahead of major event.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 49350 then we will long for the target of 49800.
For selling we need a 15 Min candle close below 49040. T- 48450.
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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