BANKNIFTY Intraday Trade Setup For 27 Jan 2022
Buy-Above 38000
Sl-37900
T-38150 38300
Sell-Below 37300
Sl-37400
T-37150 37000
BANKNIFTY has hit target of 36500 On Monday. On Tuesday's trading session it has formed a Bullish Engulfing candle in daily TF. As our buy level was triggered index gave a very good momentum upside.
On Expiry day if index consolidates between 37900-37700 and breaks the range upside above 38000 that will be the best trade in buy side. Targets will be 38200 and 38300.
For selling we need need a 5 Min candle close below 37300 target will be of 150 points.
While below 36700 we will plan for bigger targets of 300-400 points.
37900 can act as a supply zone if we find a rejection or negative candle then we will short below that candle low for the target of 37500.
The trading range is bigger so trade carefully with strict stop losses as intraday moves are bigger.
Buy-Above 38000
Sl-37900
T-38150 38300
Sell-Below 37300
Sl-37400
T-37150 37000
BANKNIFTY has hit target of 36500 On Monday. On Tuesday's trading session it has formed a Bullish Engulfing candle in daily TF. As our buy level was triggered index gave a very good momentum upside.
On Expiry day if index consolidates between 37900-37700 and breaks the range upside above 38000 that will be the best trade in buy side. Targets will be 38200 and 38300.
For selling we need need a 5 Min candle close below 37300 target will be of 150 points.
While below 36700 we will plan for bigger targets of 300-400 points.
37900 can act as a supply zone if we find a rejection or negative candle then we will short below that candle low for the target of 37500.
The trading range is bigger so trade carefully with strict stop losses as intraday moves are bigger.
