NIFTY has closed on a bullish note with 0.53% gain today. After 3 days of decline move it gave a slight good move in today's session. Now it has given a fresh breakout after consolidating so above 22500 it will test 22850 as per ABCD pattern. 1st minor intraday resistance will be 22675 and 22850 being a strong one. Best trade will be on flat opening and sustaining above 22500. 22350 is a deciding zone , break of which will lead to an intraday fall.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22500 then we will long for the target of 22675 and 22850.
For selling we need a 15 Min candle close below 22350. T- 22170 and 21980.
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.