BANKNIFTY Intraday Trade Setup For 18 Jan 2024BANKNIFTY Intraday Trade Setup For 18 Jan 2024
Sell_1- From 47215
Invalid-Above 47325
T- 46610 46000
Sell_2- Below 45970
Invalid-Above 46080
T- 45350 44750
BANKNIFTY has closed in deep red today with 4.28% cut. This is one of the biggest intraday fall in the recent months. It opened with a big gap down today and 10 o'clock range was to be used as per trade setup. Range broke downside below 46530 and gave a move till 45980. Tomorrow once again there can be good fall below 45970. Incase today's low is safe and opens with slight gap up/down or flat then there is a possibility of pullback is high.
Coming to Thursday's trade setup, if index opens flat and a Min candle closes below 45970 then we will short for the target of 45350 and 44750.
2nd sell position can be considered 47220. T- 46610 and 46000.
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.
