BANKNIFTY Intraday Trade Setup 27 Sep 2024
Bullish-Above 54500
Invalid-Below 54390
T- 54925
Bearish-Below 54000
Invalid-Above 54110
T- 53500
BANKNIFTY has closed on a positive note with 0.51% gain today. We will follow buy on dips approach till index is closing above PDL. If a daily candle closes below PDL then chances of bulls giving up will be high. Bearish sentiment likely to kick in when index will close below PDL in daily TF. 54500 and 54000 will be tomorrow's range.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 54500 then we will long for the target of 54925.
For selling we need a 15 min candle close below 54000. T- 53500.
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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