NIFTY Intraday Trade Setup For 21 Mar 2024
Bullish-Above 21950
Invalid-Below 21900
T- 22165
Bearish-Below 21700
Invalid-Above 21750
T- 21480 21285
NIFTY has closed on a flat note with minor gain of 0.1% today. It has formed a doji candle in daily TF just after closing below 50 EMA yesterday. In order to follow the recent bearish trend established index has to take down 21700 again. One fine bearish move can be seen below today's low. It was a volatile session today as sell triggered and gave 80 points in favor then reversed sharply. Since it is a doji candle above its high bulls will try to regain 50 EMA in daily TF.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21950 then we will long for the target of 21965.
For selling we need a 15 Min candle close below 21700. T- 21480 and 21285.
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 21950
Invalid-Below 21900
T- 22165
Bearish-Below 21700
Invalid-Above 21750
T- 21480 21285
NIFTY has closed on a flat note with minor gain of 0.1% today. It has formed a doji candle in daily TF just after closing below 50 EMA yesterday. In order to follow the recent bearish trend established index has to take down 21700 again. One fine bearish move can be seen below today's low. It was a volatile session today as sell triggered and gave 80 points in favor then reversed sharply. Since it is a doji candle above its high bulls will try to regain 50 EMA in daily TF.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21950 then we will long for the target of 21965.
For selling we need a 15 Min candle close below 21700. T- 21480 and 21285.
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.
