BANKNIFTY Intraday Trade Setup For 05 Dec 2023
BANKNIFTY Intraday Trade Setup For 05 Dec 2023
Buy_1-Above 46490
Invalid-Below 46380
T- 46775 47060
Buy_2- From 45837
Invalid-Below 45727
T- 46160 46500
BANKNIFTY has closed at a record high today with 3.61% mega gain today. Our swing long position which we planned on 27 Nov above 44450 was triggered on 29 Nov. Expected target was a fresh ATH which is met today. In 4 sessions it has given more than 2000 points gain. One can book max gain here and rest trail till bullish price structure is intact in hourly TF. Tomorrow there is a possibility of a pullback. In tomorrow's dip idea will be to long on a bullish reversal price structure in 5 Min TF.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46490 then we will long for the target of 46775 and 47060.
We will buy from 45840 if tested for the target of 46160 and 46500.
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.
Buy_1-Above 46490
Invalid-Below 46380
T- 46775 47060
Buy_2- From 45837
Invalid-Below 45727
T- 46160 46500
BANKNIFTY has closed at a record high today with 3.61% mega gain today. Our swing long position which we planned on 27 Nov above 44450 was triggered on 29 Nov. Expected target was a fresh ATH which is met today. In 4 sessions it has given more than 2000 points gain. One can book max gain here and rest trail till bullish price structure is intact in hourly TF. Tomorrow there is a possibility of a pullback. In tomorrow's dip idea will be to long on a bullish reversal price structure in 5 Min TF.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46490 then we will long for the target of 46775 and 47060.
We will buy from 45840 if tested for the target of 46160 and 46500.
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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