Simple Trade Setup | BANKNIFTY | 25-01-2022 [INTRADAY]

Jan 24, 2022

BANKNIFTY

Observations:

1) On 1 day time frame, we can see it closed below 100 EMA

Please refer below chart : 1day Time Frame.


2) On 1 hr time frame we can see that it is now at the support channel.

If it trades below this and gives breakdown then the fall may come.

Please refer below chart : 1hr Time Frame.


-------------------------------------
Trade Setup for 25-01-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.