NIFTY Intraday Trade Setup For 23 Jul 2024
NIFTY Intraday Trade Setup For 23 Jul 2024
Bullish-Above 24600
Invalid-Below 24550
T- 24855 25160
Bearish-Below 24350
Invalid-Above 24400
T- 24048 23800
NIFTY has closed on a flat note today, calmness before Budget move. However it formed spinning top candle in daily TF which is indecision sign. It is going to be a news reactive/driven market tomorrow due to Union Budget announcements. One can avoid trading tomorrow as I personally cant's trade uncertainty. However 24600 and 24350 will be range I will be looking to trade on breakout.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24600 then we will long for the target of 24855 and 25160.
For selling we need a 15 Min candle close below 24350. T- 24048 and 23800.
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 24600
Invalid-Below 24550
T- 24855 25160
Bearish-Below 24350
Invalid-Above 24400
T- 24048 23800
NIFTY has closed on a flat note today, calmness before Budget move. However it formed spinning top candle in daily TF which is indecision sign. It is going to be a news reactive/driven market tomorrow due to Union Budget announcements. One can avoid trading tomorrow as I personally cant's trade uncertainty. However 24600 and 24350 will be range I will be looking to trade on breakout.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24600 then we will long for the target of 24855 and 25160.
For selling we need a 15 Min candle close below 24350. T- 24048 and 23800.
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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