BANKNIFTY Intraday Trade Setup For 30 Jan 2023
Buy-Above 40485
Sl-40375
T-40775 41075
Sell-Below 40145
Sl-40255
T-39845 39500
BANKNIFTY has closed on bearish sentiment last day and last week. Last week was one of the largest weekly cuts in the recent months. It was being updated since last 2 weeks that if in any case index tests the support zones which were created by consecutive hammers in daily TF then index will fall sharply. Even last week it was updated the the previous weekly candle looks a buyer's candle and below its low there can be parabolic down move. So has happed after conditions met. Now we can expect a small pullback of the whole down move before any further fall till 38757.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40485 then we will long for the target of 40775 and 41075.
For selling we need a 15 Min candle close below 40145. T- 39845 and 39500.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 40485
Sl-40375
T-40775 41075
Sell-Below 40145
Sl-40255
T-39845 39500
BANKNIFTY has closed on bearish sentiment last day and last week. Last week was one of the largest weekly cuts in the recent months. It was being updated since last 2 weeks that if in any case index tests the support zones which were created by consecutive hammers in daily TF then index will fall sharply. Even last week it was updated the the previous weekly candle looks a buyer's candle and below its low there can be parabolic down move. So has happed after conditions met. Now we can expect a small pullback of the whole down move before any further fall till 38757.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40485 then we will long for the target of 40775 and 41075.
For selling we need a 15 Min candle close below 40145. T- 39845 and 39500.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
