Omahto

BANKNIFTY Intraday Trade Setup For 18 Jan 2022

NSE:BANKNIFTY   NIFTY BANK
BANKNIFTY Intraday Trade Setup For 18 Jan 2022

Buy-Above 38300
Sl-38200
T-38450-38500

Sell-Below 38130
Sl-38230
T-38000 37800 37630

BANKNIFTY has traded in a complete range today. Index was not tradable at all because of its sideways momentum.
However We discussed that we will short at 38600 if we get any negative candle. Index made a doji candle and fell till 38140 level.
That was only tradable all other moves were choppy.

Coming to tomorrow's trade , the best trade would be short below 38130 if opens flat. A big gap up or gap down will lead to a lost momentum market again.

For buying we need a 5Min candle close above 38300. Our target would be around 38450.
No aggressive buying as of now.

We have already discussed that index this current pullback can pull Banknifty till 38600 level. That is what is happening.
After a sharp up-move index is consolidating now.

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