BANKNIFTY Intraday Trade Setup For 25 Jan 2024
Bullish-Above 45500
Invalid-Above 45390
T- 46135 46700
Bearish-Below 44480
Invalid-Above 44590
T- 43855 43280
BANKNIFTY has closed almost on a flat note with a minor gain of 0.15%. Yesterday we in the trade setup we discussed that there is a high probability of a pullback to the impulsive down mov. It opened with a decent gap down and the pullback move initiated from 9:15 candle itself. Also in daily TF it opened at 0.618. A bounce can be expected from this region so above 45500 there can be another leg of rally. Below 44480 once again strong bearish move will be seen.
Coming to Thursday's trade setup, if index opens flat and a 15 in candle closes above 45500 then we will long for the target of 46135 and 46700.
For selling we need a 15 min candle close below 44480. T- 43855 and 43280.
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.
Bullish-Above 45500
Invalid-Above 45390
T- 46135 46700
Bearish-Below 44480
Invalid-Above 44590
T- 43855 43280
BANKNIFTY has closed almost on a flat note with a minor gain of 0.15%. Yesterday we in the trade setup we discussed that there is a high probability of a pullback to the impulsive down mov. It opened with a decent gap down and the pullback move initiated from 9:15 candle itself. Also in daily TF it opened at 0.618. A bounce can be expected from this region so above 45500 there can be another leg of rally. Below 44480 once again strong bearish move will be seen.
Coming to Thursday's trade setup, if index opens flat and a 15 in candle closes above 45500 then we will long for the target of 46135 and 46700.
For selling we need a 15 min candle close below 44480. T- 43855 and 43280.
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.
