NIFTY Intraday Trade Setup For 12 Nov 2024
NIFTY Intraday Trade Setup For 12 Nov 2024
Bullish-Above 24280
Invalid-Below 24230
T- 24500+
Bearish- Below 24050
Invalid-Above 24100
T- 23775
NIFTY has closed with slight cut of 0.64% last week. It has formed a spinning top candle in weekly TF which indicates either halt of ongoing selling which later can result into reversal on further confirmation or a continuation below its low- 23800. Overall market is sell on rise till it regains 50 EMA in daily TF. 24280 and 24050 are intraday levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24280 then we will long for the target of 24500+.
For selling we need a 15 Min candle close below 24050. T- 23775.
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 24280
Invalid-Below 24230
T- 24500+
Bearish- Below 24050
Invalid-Above 24100
T- 23775
NIFTY has closed with slight cut of 0.64% last week. It has formed a spinning top candle in weekly TF which indicates either halt of ongoing selling which later can result into reversal on further confirmation or a continuation below its low- 23800. Overall market is sell on rise till it regains 50 EMA in daily TF. 24280 and 24050 are intraday levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24280 then we will long for the target of 24500+.
For selling we need a 15 Min candle close below 24050. T- 23775.
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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