BANKNIFTY Intraday Trade Setup For 01 Dec 2023

BANKNIFTY Intraday Trade Setup For 01 Dec 2023

Bullish-Above 44770
Invalid-Above 44880
T- 45080 45345

Bearish-Below 44250
Invalid-Above 44360
T- 43980 43710

BANKNIFTY has closed on a slight bearish note with 0.19% cut today. Now next round of up move will resume above 44770 only. Today it traded between buy and sell level for the whole day. There can be a very good trendy move with momentum above today's high. Below 44250 it will give a downside move. In between it is risky to trade as it be a zoned market between today's high and low.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44770 then we will long for the target of 45080 and 45345.

For selling we need a 15 Min candle close below 44250. T- 43980 and 43710.

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.