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BANKNIFTY Intraday Trade Setup For 29 Sep 2023

Nifty Bank Index (NSE:BANKNIFTY)  
Omahto Updated   
NSE:BANKNIFTY   Nifty Bank Index
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BANKNIFTY Intraday Trade Setup For 29 Sep 2023

Sell_1- From 44560
Invalid-Above 44670
T- 44300 44000

Sell_2- Below 44240
Invalid-Above 44350
T- 44000 43755

BANKNIFTY has closed on a complete bearish note with 0.64% cut today. It was a bit confusing and wild till 10 o'clock range was safe. Buy triggered as per trade setup which hit 110 points sl. Later sell triggered below 44490 and 10 o'clock range also broke downside and gave a decent move till 44250. However momentum was a bit messy compared to NIFTY and other indices. Tomorrow once again it can show some bearish move below today' low. 44560 will be a level to short in case of pullback or gap up.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44240 then we will short. T- 44000 and 43755.

In case of a gap up , 44560 zone will be a good place to short. T- 44300 and 44000 below 44240.

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.
Trade active:
snapshot

avoid the short trade

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NIFTY Intraday Trade Setup For 29 Sep 2023
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