NIFTY Intraday Trade Setup For 20 May 2024
Bullish-Above 22530
Invalid-Below 22480
T- 22737
Bearish-Below 22430
Invalid-Above 22480
T- 22230
NIFTY has closed on a bullish note with 2% gain last week. It has taken support from the lower trendline support in daily TF. Since last one month we have been discussing that the broad range is 22800 and 21700-800. Breakout of this range will trigger a fresh trend. Overall sentiment is sideways, this week caters a bullish sentiment inside the range. Monday's intraday range is 22530 and 22430. We will simply trade on this range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22737.
For selling we need a 15 Min candle close below 22430. T- 22230.
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 22530
Invalid-Below 22480
T- 22737
Bearish-Below 22430
Invalid-Above 22480
T- 22230
NIFTY has closed on a bullish note with 2% gain last week. It has taken support from the lower trendline support in daily TF. Since last one month we have been discussing that the broad range is 22800 and 21700-800. Breakout of this range will trigger a fresh trend. Overall sentiment is sideways, this week caters a bullish sentiment inside the range. Monday's intraday range is 22530 and 22430. We will simply trade on this range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22737.
For selling we need a 15 Min candle close below 22430. T- 22230.
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.
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NIFTY Intraday Trade Setup For 21 May 2024
