BANKNIFTY Intraday Trade Setup For 30 Aug 2024

BANKNIFTY Intraday Trade Setup For 30 Aug 2024

Bullish-Above 51410
Invalid-Below 51300
T- 51960

Bearish-Below 50930
Invalid-Above 50040
T- 50390

BANKNIFTY has closed once again on a flat note. It was clearly that we will keep non-directional approach inside our buy sell levels. Outlook worked but today was volatile one inside range. Since last 3 sessions index is stuck between 51400 and 50900. Breakout needed for a directional view or else will keep non-directional approach till breakout happens.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 51410 then we will long for the target of 51960.

For selling we need a 15 Min candle close below 50930. T- 50390.

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.