BANKNIFTY Intraday Trade Setup For 12 Jun 2024
BANKNIFTY Intraday Trade Setup For 12 Jun 2024
Bullish-Above 50000
Invalid-Below 49890
T- 50750
Bearish-Below 49500
Invalid-Above 49610
T- 48700
BANKNIFTY has closed with a slight cut of 0.15% cut today. Nothing was triggered as per trade setup, traded between 400 points range. Index is consolidating and premiums are getting to its normal value after event. It has formed a spinning top candle in daily TF which indicates indecision in market, direction missing market. If index breaks the plotted trendline and sustains above 50k then a short covering move is possible.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 50k then we will long for the target of 50750.
For selling we need a 15 Min candle close below 49500. T- 48700.
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 50000
Invalid-Below 49890
T- 50750
Bearish-Below 49500
Invalid-Above 49610
T- 48700
BANKNIFTY has closed with a slight cut of 0.15% cut today. Nothing was triggered as per trade setup, traded between 400 points range. Index is consolidating and premiums are getting to its normal value after event. It has formed a spinning top candle in daily TF which indicates indecision in market, direction missing market. If index breaks the plotted trendline and sustains above 50k then a short covering move is possible.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 50k then we will long for the target of 50750.
For selling we need a 15 Min candle close below 49500. T- 48700.
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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