BANKNIFTY Intraday Trade Setup For 23 Jul 2024
Bullish-Above 52450
Invalid-Below 52340
T- 53605
Bearish-Below 51850
Invalid-Above 51960
T- 50980
BANKNIFTY has closed on an absolute flat note today. It opened with a slight gap down and then regained yesterday's closing, after that it was total sideways from 9:45 till 3:30. Also we discussed in the weekend that index has been trading between 52800 and 52100 on closing basis. Since it tested these levels so we can refine levels for tomorrow's budget session. 51700 and 52800 are key levels for a big move. Intra levels are 52450 and 51850.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52450 then we will long for the target of 53605.
For selling we need a 15 Min candle close below 51850. T- 50980.
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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