BANKNIFTY Intraday Trade Setup For 19 Jan 2024
BANKNIFTY Intraday Trade Setup For 19 Jan 2024
Bullish-Above 46190
Invalid-Below 46080
T- 46870 47525
Bearish-Below 45430
Invalid-Above 45540
T- 44750 44180
BANKNIFTY has closed on a bearish note once again with 0.76% cut today. It opened with a big gap down today also, opening was directly near our 1st sell target. 10 o'clock range was to be used as per trade setup, range broke upside above 45825 and gave a move till 46184. It has formed an inverted hammer in daily TF near hourly support zone - 45400. Swing lengths have increased due to spike in VIX so be very strict with risk and rewards. 46190 and 45430 are important levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46190 then we will long for the target of 46870 and 47525.
For selling we need a 15 Min candle close below 45430. T- 44750 and 44180.
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.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 46190
Invalid-Below 46080
T- 46870 47525
Bearish-Below 45430
Invalid-Above 45540
T- 44750 44180
BANKNIFTY has closed on a bearish note once again with 0.76% cut today. It opened with a big gap down today also, opening was directly near our 1st sell target. 10 o'clock range was to be used as per trade setup, range broke upside above 45825 and gave a move till 46184. It has formed an inverted hammer in daily TF near hourly support zone - 45400. Swing lengths have increased due to spike in VIX so be very strict with risk and rewards. 46190 and 45430 are important levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46190 then we will long for the target of 46870 and 47525.
For selling we need a 15 Min candle close below 45430. T- 44750 and 44180.
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.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.