Technical Analyst, owner of TRADEMANIAC
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**Disclaimer:-I'm not a SEBI registered analyst. The chart is shared only for educational purposes.
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If you observe my previous day's analysis carefully, you will see that Banknifty reversed from the magic box. I always teach my students to trades near the magic box. That is a high probability trade set-up with good risk: reward. Banknifty future reversed from 43590. Just observe how my technical set-up perfectly works in the real market. I have shared the image in the image section.
Now, let's talk about today's trade setup. I have already mentioned in the class as well as in my blog that Banknifty gave Daily, weekly and monthly breakouts. It was mentioned on October 17, 2022. After that, Banknifty rallied 5000 + points. our students earned 60k-70k profit in this rally. I have again shared an analysis in which I predict that Banknifty can fall 5000-6000 points. I have shared that live tv chart of Banknifty future in tradingview as well as in my previous blog. Positionally, I'm bearish now. Market can reverse any time. so, we can take an option trade of March month expiry with proper risk: reward.
In intraday, you can take buy trade above the magic box. One can short Banknifty future below 43563
TV chart:-https://in.tradingview.com/chart/BANKNIFTY1!/7KS2fm7D-Banknifty-Future-Intraday-Positional-view/