BANKNIFTY Intraday Trade Setup For 11 Jan 2024
Bullish-Above 47430
Invalid-Below 47320
T- 47835 48265
Bearish-Below 47000
Invalid-Above 47110
T- 46580 46100
BANKNIFTY has closed on a slight bullish note with 0.25% gain today. It opened with a slight gap down and tested 47000 zone via gap up. Immediate and sharp bounce came from psychological support in a single candle. Later it just consolidated the whole day. Tomorrow if it opens flat and sustains 47430 then it can show one more upside move towards 47800 in intraday. Weekly CIP support is 46300 zone. Below 4700 if it slips then bears will take charge.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47430 then we will long for the target of 47835 and 48265.
For selling we need a 15 Min candle close below 47000. T- 46580 and 46100.
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 47430
Invalid-Below 47320
T- 47835 48265
Bearish-Below 47000
Invalid-Above 47110
T- 46580 46100
BANKNIFTY has closed on a slight bullish note with 0.25% gain today. It opened with a slight gap down and tested 47000 zone via gap up. Immediate and sharp bounce came from psychological support in a single candle. Later it just consolidated the whole day. Tomorrow if it opens flat and sustains 47430 then it can show one more upside move towards 47800 in intraday. Weekly CIP support is 46300 zone. Below 4700 if it slips then bears will take charge.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47430 then we will long for the target of 47835 and 48265.
For selling we need a 15 Min candle close below 47000. T- 46580 and 46100.
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.
