NIFTY Intraday Trade Setup For 8 Aug 2024
NIFTY Intraday Trade Setup For 8 Aug 2024
Bullish-Above 24390
Invalid-Below 24340
T- 24650
Bearish-Below 24180
Invalid-Above 24230
T- 23900
NIFTY has closed on a positive note with 1.27% gain today. However whole gain is the same points it gaped up. It was sideways within 150 points range in intraday. Today's low is very important as the daily candle is a Pinbar and a double force move can be seen below 24180. In case it opens flat and 24390 is sustained then we will head towards 0.618 zone of the fall we witnessed in last few days.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24390 then we will long for the target of 24650.
For selling we need a 15 Min candle close below 24180. T- 23900.
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 24390
Invalid-Below 24340
T- 24650
Bearish-Below 24180
Invalid-Above 24230
T- 23900
NIFTY has closed on a positive note with 1.27% gain today. However whole gain is the same points it gaped up. It was sideways within 150 points range in intraday. Today's low is very important as the daily candle is a Pinbar and a double force move can be seen below 24180. In case it opens flat and 24390 is sustained then we will head towards 0.618 zone of the fall we witnessed in last few days.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24390 then we will long for the target of 24650.
For selling we need a 15 Min candle close below 24180. T- 23900.
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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