NIFTY Intraday Trade Setup For 24 Nov 2023

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 24 Nov 2023

Bullish-Above 19880
Invalid-Below 19830
T- 19969 20063

Bearish-Below 19780
Invalid-Above 19830
T- 19703 19614

NIFTY has closed once again on a flat note yesterday. Buy triggered above 19830 last day which did hit target EOD. It has formed a shooting star in daily chart, so high of the shooting star is very important for the next round of rally. Above 19880 index will start an bullish impulsive move. Below 19780 effect of the shooting star can be seen and a downside move can be triggered.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19880 then we will long for the target of 19969 and 20063.

For selling we need a 15 Min candle close below 19780. T- 19703 and 19614.

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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