NIFTY Intraday Trade Setup For 29 Jan 2024
Bullish-Above 21410
Invalid-Below 21360
T- 21627 21855
Bearish-Below 21240
Invalid-Above 21290
T- 20975 20769
NIFTY has closed on a slight bearish note last week with 1% cut. Since the update of NIFTY making a short term top @ 22124 on 18 Jan , it is in correction mode. Only Event is Union Budget which can terminate this correction or else it is aligned for a short term correction towards 20200 zone. However the coming week is filled with major events like Giant's result Union Budget and Fed Event. 21410 and 21240 are important levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21410 then we will long for the target of 21625 and 21855.
For selling we need a 15 Min candle close below 21240. T- 20975 and 20769.
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 21410
Invalid-Below 21360
T- 21627 21855
Bearish-Below 21240
Invalid-Above 21290
T- 20975 20769
NIFTY has closed on a slight bearish note last week with 1% cut. Since the update of NIFTY making a short term top @ 22124 on 18 Jan , it is in correction mode. Only Event is Union Budget which can terminate this correction or else it is aligned for a short term correction towards 20200 zone. However the coming week is filled with major events like Giant's result Union Budget and Fed Event. 21410 and 21240 are important levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21410 then we will long for the target of 21625 and 21855.
For selling we need a 15 Min candle close below 21240. T- 20975 and 20769.
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.
