Omahto

BANKNIFTY Intraday Trade Setup For 20 Jan 2022

NSE:BANKNIFTY   NIFTY BANK
BANKNIFTY Intraday Trade Setup For 20 Jan 2022

Buy-Above 38200
Sl-38100
T-38370

Sell-Below 37770
Sl-37870
T-37540 37350

BANKNIFTY as discussed yesterday that we will sell below 38090, it gave 200 points profit in the 1st 15 min only. After that index gave a bounce and once again our sell level was breached and index fell once again 300 points.

We will avoid buying as of now. We prefer selling with full exposure. If index gives a 15 min candle close above 38180 then we will buy for about 180 points.

The best trade will be if index opens flat and crosses today's low 37770 then we will short for the target of 37500 and 37300.

A big gap or gap down will create volatility and end the expiry in range. Live market price action will be important in case of big gap or gap down.

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