BANKNIFTY Intraday Trade Setup For 29 Dec 2023
Bullish-Above 48650
Invalid-Below 48540
T- 49025 49440
Bearish-Below 48340
Invalid-Above 48450
T- 47952 47575
BANKNIFTY has closed on a bullish note with 0.47% gain today. It opened
above our buy level with a gap up. 10 O'clock range was to be used as
per trade setup. But nothing triggered as per that, whole day it traded
between 10 o'clock range. Momentum dropped drastically due to VIX cool
off. It has formed a Spinning top candle in daily TF which is halt sign.
Below today's low it can be a reversal sign in very short or in
intraday. Tomorrow we will trade on today's range breakout . 48650 and
48340 are important levels for next session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48650 then we will long for the target of
For selling we need a 15 Min candle close below 48340. T- 47950 and 47575.
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.
Friday, December 29, 2023
BANKNIFTY LEVEL 29/12/2023
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