BANKNIFTY Intraday Trade Setup For 30 Jan 2024
Bullish-Above 45680
Invalid-Below 45570
T- 46155 46650
Bearish-Below 45110
Invalid-Above 45220
T- 44450 43845
BANKNIFTY has closed on a bullish note with 1.28% gain today. In the weekend we discussed that index has formed a base near 44400 zone and there is a high possibility of extending bounce above 45150. Today buy triggered above 45150 and gave a move till 45660. now next leg of rally towards 46600 zone will be triggered above 45680 or else there is chance of slip too. 45110 is the level for a downside trigger.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 45680 then we will long for the target of 46155 and 46640.
For selling we need a 15 min candle close below 45110. T- 44450 and 43850.
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 45680
Invalid-Below 45570
T- 46155 46650
Bearish-Below 45110
Invalid-Above 45220
T- 44450 43845
BANKNIFTY has closed on a bullish note with 1.28% gain today. In the weekend we discussed that index has formed a base near 44400 zone and there is a high possibility of extending bounce above 45150. Today buy triggered above 45150 and gave a move till 45660. now next leg of rally towards 46600 zone will be triggered above 45680 or else there is chance of slip too. 45110 is the level for a downside trigger.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 45680 then we will long for the target of 46155 and 46640.
For selling we need a 15 min candle close below 45110. T- 44450 and 43850.
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.
