BANKNIFTY Intraday Trade Setup For 9 Jan 2023
Buy-Above 42265
Sl-42155
T-42500 42730
Sell-Below 41870
Sl-41980
T- 41570 41250
BANKNIFTY has closed on bearish sentiment last day and week. Last week we have have seen good down move. Its likely to give a pullback before any further down move. Below 41550 next leg of down move will start. For any good up move we need a proper structure in hourly TF. Tomorrow's closing will be important for view building for the next coming days of the week. If pullback (of the down move) comes then it will try to test 42730. Post rejection from this level we have to re-analyze.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42265
then we will long for the target of 42500 and 42730.
For selling we need a 15 Min candle close below 41870. T- 41569 and 41250.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 42265
Sl-42155
T-42500 42730
Sell-Below 41870
Sl-41980
T- 41570 41250
BANKNIFTY has closed on bearish sentiment last day and week. Last week we have have seen good down move. Its likely to give a pullback before any further down move. Below 41550 next leg of down move will start. For any good up move we need a proper structure in hourly TF. Tomorrow's closing will be important for view building for the next coming days of the week. If pullback (of the down move) comes then it will try to test 42730. Post rejection from this level we have to re-analyze.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42265
then we will long for the target of 42500 and 42730.
For selling we need a 15 Min candle close below 41870. T- 41569 and 41250.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
