NIFTY Intraday Trade Setup For 29 Apr 2024
Bullish-Above 22630
Invalid-Below 22580
T- 22810
Bearish-Below 22380
Invalid-Above 22430
T- 22145
NIFTY has closed with a gain of 1.23% last week. Index is still trading sideways in the parallel channel.
Till the time index trades between this parallel channel direction trades in short term is risky. 21700 and 22800 is the range for a short term trigger. Breakout of this range will establish a trend in short term as these are weekly levels. 22300 is the last hourly swing low, breakdown may trigger a good fall.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22630 then we will long for the target of 22810-50.
For selling we need a 15 Min candle close below 22380. T- 22145.
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 22630
Invalid-Below 22580
T- 22810
Bearish-Below 22380
Invalid-Above 22430
T- 22145
NIFTY has closed with a gain of 1.23% last week. Index is still trading sideways in the parallel channel.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22630 then we will long for the target of 22810-50.
For selling we need a 15 Min candle close below 22380. T- 22145.
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.
