BANKNIFTY Intraday Trade Setup For 30 Sep 2024

BANKNIFTY Intraday Trade Setup For 30 Sep 2024

Sell_1- From 54250
Invalid-Above 54360
T- 53800

Sell_2-Below 53700
Invalid-Above 53810
T- 53200

BANKNIFTY has closed on a flat note with bearish sentiment last week. It was sideways to slight bullish but on last day whole 500 points gain eroded, week ended near lows. It has formed shooting star in weekly TF which is a potential indication of profit booking. Below 53700 bearish stance can be seen. 53300 is CIP zone in daily TF.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below 53700 then we will short for the target of 53200.

In case of pullback towards 54250 we can short from there for the target of 53800.

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.
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