NIFTY Intraday Trade Setup For 20 Mar 2024
Bullish-Above 22000
Invalid-Below 21950
T- 22200
Bearish-Below 21780
Invalid-Above 21830
T- 21580 21350
NIFTY finally gave breakout of the channel pattern daily TF and closed today with 1% cut today. Our short trade is now active below 21900, this level was discussed multiple times in the recent days back. Now index is ready for a good downside move. We will drop bearish view once it regains 50 EMA in daily TF. Tomorrow 21985 zone will be an intraday resistance if tested. On a flat opening below today's low there will be a good downmove.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22000 then we will long for the target of 22200.
For selling we need a 15 Min candle close below 21780. T- 21580 and 21350.
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 22000
Invalid-Below 21950
T- 22200
Bearish-Below 21780
Invalid-Above 21830
T- 21580 21350
NIFTY finally gave breakout of the channel pattern daily TF and closed today with 1% cut today. Our short trade is now active below 21900, this level was discussed multiple times in the recent days back. Now index is ready for a good downside move. We will drop bearish view once it regains 50 EMA in daily TF. Tomorrow 21985 zone will be an intraday resistance if tested. On a flat opening below today's low there will be a good downmove.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22000 then we will long for the target of 22200.
For selling we need a 15 Min candle close below 21780. T- 21580 and 21350.
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.
