BANKNIFTY Intraday Trade Setup For 25 Oct 2023 || Daily Analysis
BANKNIFTY Intraday Trade Setup For 25 Oct 2023
Sell_1-From 43550
Invalid-Above 43660
T- 43335 43100
Sell_2- Below 43020
Invalid-Above 43130
T- 42725 42420
BANKNIFTY has closed on a complete bearish note with 1.31% cut on Monday. 43550 was the short level for last session. It triggered and we witnessed a free fall in index. Wild bearish move will continue below 43020/43k. There is a high probability of a pullback tomorrow so in case 43550 is tested in the opening sentiment then we will plan a short from there. 2nd confluence level is 43350 zone in case it opens below this zone.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes below 43020. T- 42725 and 42425.
Incase 43550 is tested in the 1st hour then we will short from there. T- 43335 and 43100.
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.
Sell_1-From 43550
Invalid-Above 43660
T- 43335 43100
Sell_2- Below 43020
Invalid-Above 43130
T- 42725 42420
BANKNIFTY has closed on a complete bearish note with 1.31% cut on Monday. 43550 was the short level for last session. It triggered and we witnessed a free fall in index. Wild bearish move will continue below 43020/43k. There is a high probability of a pullback tomorrow so in case 43550 is tested in the opening sentiment then we will plan a short from there. 2nd confluence level is 43350 zone in case it opens below this zone.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes below 43020. T- 42725 and 42425.
Incase 43550 is tested in the 1st hour then we will short from there. T- 43335 and 43100.
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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