BANKNIFTY Intraday Trade Setup For 11 Jun 2024
BANKNIFTY Intraday Trade Setup For 11 Jun 2024
Bullish-Above 50300
Invalid-Below 50190
T- 51000
Bearish-Below 49550
Invalid-Above 49660
T- 48730
BANKNIFTY opened absolutely flat and closed absolutely flat today. Intraday moves were choppy. It has formed a shooting star in daily TF and chance of a corrective move of the rise from 46100 is high. Below 49550 we may test 48700 zone. Chances of an inside candle looks high in weekly TF. 50300 will be important for any upside trigger, probably towards ATH. 48700 zone can act as an intraday support tomorrow.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 50300 then we will long for the target of 51k.
For selling we need a 15 Min candle close below 49550. 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 50300
Invalid-Below 50190
T- 51000
Bearish-Below 49550
Invalid-Above 49660
T- 48730
BANKNIFTY opened absolutely flat and closed absolutely flat today. Intraday moves were choppy. It has formed a shooting star in daily TF and chance of a corrective move of the rise from 46100 is high. Below 49550 we may test 48700 zone. Chances of an inside candle looks high in weekly TF. 50300 will be important for any upside trigger, probably towards ATH. 48700 zone can act as an intraday support tomorrow.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 50300 then we will long for the target of 51k.
For selling we need a 15 Min candle close below 49550. 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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