BANKNIFTY Intraday Trade Setup For 24 Jan 2024
Sell_1- From 46150
Invalid-Above 46260
T- 45515 45000
Sell_2- Below 44880
Invalid-Above 44990
T- 44180 43570
BANKNIFTY has closed on a bold bearish note with 2.26% cut today. It opened with a big gap up today and as per trade setup 10 o'clock range was to be followed. Range broke downside below 45980 and gave a big trendy move till 44887. Yesterday it was said that index may give a bullish move but I clearly said that I doubt it will sustain. Tomorrow there can be an pullback of today's impulsive move or there is a chance of a halt candle in daily TF. 0.382 of yesterday's range will be first confluence level.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 44880 then we will short for the target of 44180 and 43570.
In case 46150 is tested via gap up move then we will short. T- 45500 zone.
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.
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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.
Sell_1- From 46150
Invalid-Above 46260
T- 45515 45000
Sell_2- Below 44880
Invalid-Above 44990
T- 44180 43570
BANKNIFTY has closed on a bold bearish note with 2.26% cut today. It opened with a big gap up today and as per trade setup 10 o'clock range was to be followed. Range broke downside below 45980 and gave a big trendy move till 44887. Yesterday it was said that index may give a bullish move but I clearly said that I doubt it will sustain. Tomorrow there can be an pullback of today's impulsive move or there is a chance of a halt candle in daily TF. 0.382 of yesterday's range will be first confluence level.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 44880 then we will short for the target of 44180 and 43570.
In case 46150 is tested via gap up move then we will short. T- 45500 zone.
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.
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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.