BANKNIFTY Intraday Trade Setup For 10 Jan 2023
Sell_1- From 47710
Invalid-Above 47820
T- 47430 47200
Sell_2- Below 47150
Invalid-Above 47260
T- 46780 46355
BANKNIFTY has closed on a bearish note with 0.44% cut today. As per previous day trade plan we planned a short from 47930, according to simple half bat pattern. Sell triggered @ 47930 and what a fall we got. It gave a move of more than 700 points in favor, however main move came after 2 PM. Tomorrow once again we will plan for a sell below day low only on slight gap up to flat opening. 47705 will be an important intraday resistance.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 47150 then we will short for the target of 46780 and 46355.
2nd short can be considered from 47705 in case of a flat to gap up opening. T- 47430 and 47200.
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 47710
Invalid-Above 47820
T- 47430 47200
Sell_2- Below 47150
Invalid-Above 47260
T- 46780 46355
BANKNIFTY has closed on a bearish note with 0.44% cut today. As per previous day trade plan we planned a short from 47930, according to simple half bat pattern. Sell triggered @ 47930 and what a fall we got. It gave a move of more than 700 points in favor, however main move came after 2 PM. Tomorrow once again we will plan for a sell below day low only on slight gap up to flat opening. 47705 will be an important intraday resistance.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 47150 then we will short for the target of 46780 and 46355.
2nd short can be considered from 47705 in case of a flat to gap up opening. T- 47430 and 47200.
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.
