Omahto

BANKNIFTY Intraday Trade Setup For 24 Jan 2022

NSE:BANKNIFTY   NIFTY BANK
BANKNIFTY Intraday Trade Setup For 24 Jan 2022

Buy-Above 37750
Sl-37650
T-38000 38200

Sell-Below 37200
Sl-37300
T-37000 36800

BANKNIFTY has fallen and traded below day low since last 4 trading session. On Friday we saw a rebound, short covering move. This move will continue above Friday's high.

We will buy above above 37750 for the target of 38000 and 38200.The ideal trade would be on flat opening. A big gap up will create volatility and we have to wait till 10 o' clock.

For selling the trigger is a bit far. No aggressive sell at this point. For selling daily candle is not so promising.
Index can also give a pullback of the last week down move till 38200.

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