BANKNIFTY Intraday Trade Setup For 28 Sep 2023
Bullish-Above 44670
Invalid-Below 44560
T- 45040 45270
Bearish-Below 44490
Invalid-Above 44600
T- 44200 43915
BANKNIFTY has closed on a flat note today after a huge roller coaster ride today. One more time let me just remind you all it was discussed 44500 is going to be base zone in the weekend outlook. Also it was said that probability of sideways momentum is very high after a parabolic move. 4 out of last 5 sessions it has closed exactly near 44600. Index looks ready for a bounce now. Also sentiment will change from sideways bullish to sideways bearish once it closes below 44500 in daily TF.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 44670 then we will long for the target of 45040 and 45270 above 45050.
For selling we need a 15 Min candle close below 44490. T- 44200 and 43915 below 44170.
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.
Bullish-Above 44670
Invalid-Below 44560
T- 45040 45270
Bearish-Below 44490
Invalid-Above 44600
T- 44200 43915
BANKNIFTY has closed on a flat note today after a huge roller coaster ride today. One more time let me just remind you all it was discussed 44500 is going to be base zone in the weekend outlook. Also it was said that probability of sideways momentum is very high after a parabolic move. 4 out of last 5 sessions it has closed exactly near 44600. Index looks ready for a bounce now. Also sentiment will change from sideways bullish to sideways bearish once it closes below 44500 in daily TF.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 44670 then we will long for the target of 45040 and 45270 above 45050.
For selling we need a 15 Min candle close below 44490. T- 44200 and 43915 below 44170.
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.
