BANKNIFTY Intraday Trade Setup For 09 Jan 2023

BANKNIFTY Intraday Trade Setup For 09 Jan 2023

Sell_1- From 47930
Invalid-Above 48040
T- 47650 47400

Sell_2- Below 47380
Invalid-Above 47490
T- 46920 46635

BANKNIFTY has closed on a bold bullish note with 1.47% cut today. Sell triggered as per trade setup below 47820 and hit 1st target EOD (47820-47390). On a flat opening below today's low there an be another round of selling. Index may do a CIP structure in weekly TF , CIP support will 46300 zone. Incase it opens gap up and testes 47930 then we will short from there. Best trade will be short below day low on flat opening. Hourly support is 46900.

Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47380 then we will short for the target of 46920 and 46635 (extreme).

2nd sell can be opened from 47930 in case of fat opening or gap up. T- 47650 and 47400.

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.

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#BANKNIFTY- Update

Sell triggered @ 47930

47930-47335