NIFTY Intraday Trade Setup For 16 Feb 2024
Bullish-Above 21960
Invalid-Below 21910
T- 22190 22350
Bearish-Below 21780
Invalid-Above 21830
T- 21635 21490
NIFTY has closed with a slight gain of 0.32% gain today. It opened with a gap up and yesterday it was discussed that we may turn sideways and close flat in case of a gap up. So has happened today, it was almost sideways within a very small range till 1 PM. Then there was a call side spike which again cooled off till some extent. It has formed a doji candle in daily TF, an indecisive sentiment. Above today's high and low will be deciding levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21960 then we will long for the target of 22190 and 22350.
For selling we need a 15 Min candle close below 21790. T- 21635 and 21490.
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 21960
Invalid-Below 21910
T- 22190 22350
Bearish-Below 21780
Invalid-Above 21830
T- 21635 21490
NIFTY has closed with a slight gain of 0.32% gain today. It opened with a gap up and yesterday it was discussed that we may turn sideways and close flat in case of a gap up. So has happened today, it was almost sideways within a very small range till 1 PM. Then there was a call side spike which again cooled off till some extent. It has formed a doji candle in daily TF, an indecisive sentiment. Above today's high and low will be deciding levels for tomorrow's session.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21960 then we will long for the target of 22190 and 22350.
For selling we need a 15 Min candle close below 21790. T- 21635 and 21490.
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.
