BANKNIFTY Intraday Trade Setup For 31 Jul 2024
BANKNIFTY Intraday Trade Setup For 31 Jul 2024
Bullish-Above 52000
Invalid-Below 51890
T- 52511
Bearish-Below 51130
Invalid-Above 51240
T- 50380
BANKNIFTY has closed almost on a flat note with slight gain of 0.18% today. Yesterday a pullback scenario was discussed for a short position as said we are going into sell on rise mode. Sell triggered as per trade setup @ 51900-50 and fell till 51400 which was our target. It has formed an inside candle in daily TF which is a potential compression in coming sessions. 52k and 51130 are intraday levels for tomorrow.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52511.
For selling we need a 15 Min candle close below 51130. T- 50380.
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 52000
Invalid-Below 51890
T- 52511
Bearish-Below 51130
Invalid-Above 51240
T- 50380
BANKNIFTY has closed almost on a flat note with slight gain of 0.18% today. Yesterday a pullback scenario was discussed for a short position as said we are going into sell on rise mode. Sell triggered as per trade setup @ 51900-50 and fell till 51400 which was our target. It has formed an inside candle in daily TF which is a potential compression in coming sessions. 52k and 51130 are intraday levels for tomorrow.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52511.
For selling we need a 15 Min candle close below 51130. T- 50380.
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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