Bullish-Above 52000
Invalid-Below 51890
T- 52550
Buy_2- From 50820
Invalid-Below 50710
T- 51400
BANKNIFTY has closed on a bold bullish note with 1.9% gain today. Buy triggered as per trade setup above 50600 and gave a very good move after the pullback entry. It had a huge divergence with NIFTY. We discussed yesterday that index has given a range breakout in hourly TF above 50300 and good momentum is kicking in now. Tomorrow by any chance 50820 is tested then it will be an intra support.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52550.
2nd buying can be done from 50820. T- 51400.
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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