BANKNIFTY Intraday Trade Setup For 31 Jan 2022
BANKNIFTY Intraday Trade Setup For 31 Jan 2022
Buy-Above 38000
Sl-37900
T-38150 38300
Sell-Below 37580
Sl-37680
T-37300 37150
BANKNIFTY has given a downside move after consolidation on Friday's trading session. This sentiment will continue below Friday's low.
So we will plan for sell if index opens flat and crosses the level for the target of 37150.
But if index takes support from 37000 then we will plan for buy also. Then trendline resistance which is being followed with the Friday's fall will play an important role.
For buying we need a 5 Min candle close above 37920. Target will be 38100-3850. Index can trade in range.
Not expecting any trending move. Index may trade in zig-zag between 37150 to 38100.
Prefer selling the range. Do not plan aggressive trades and keep position size low.
Option Premiums are too high. They will be smashed both the sides seeing the premiums.
Premiums tend to be high before any big event like budget.
Buy-Above 38000
Sl-37900
T-38150 38300
Sell-Below 37580
Sl-37680
T-37300 37150
BANKNIFTY has given a downside move after consolidation on Friday's trading session. This sentiment will continue below Friday's low.
So we will plan for sell if index opens flat and crosses the level for the target of 37150.
But if index takes support from 37000 then we will plan for buy also. Then trendline resistance which is being followed with the Friday's fall will play an important role.
For buying we need a 5 Min candle close above 37920. Target will be 38100-3850. Index can trade in range.
Not expecting any trending move. Index may trade in zig-zag between 37150 to 38100.
Prefer selling the range. Do not plan aggressive trades and keep position size low.
Option Premiums are too high. They will be smashed both the sides seeing the premiums.
Premiums tend to be high before any big event like budget.
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