NIFTY Intraday Trade Setup For 9 Apr 2024
Bullish-Above 22710
Invalid- Below 22660
T- 22865
Bearish-Below 22600
Invalid-Above 22650
T- 22420
NIFTY has closed on a bullish note with 0.68% gain today. Index has picked the trend above our planned bullish level- 22620 discussed in the weekend analysis. Buy triggered above 22620 and gave a small move till 22697. Intraday momentum has really dropped and this is a historical reason as momentum dies in bull market, FUT and option selling suited market. Tomorrow 22710 will be an important resistance, a shooting star in 5 Min TF will be good to short. Below 22600 we will short.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22710 then we will long for the target of 22865.
For selling we need a 15 Min candle close below 22600. T- 22420.
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 22710
Invalid- Below 22660
T- 22865
Bearish-Below 22600
Invalid-Above 22650
T- 22420
NIFTY has closed on a bullish note with 0.68% gain today. Index has picked the trend above our planned bullish level- 22620 discussed in the weekend analysis. Buy triggered above 22620 and gave a small move till 22697. Intraday momentum has really dropped and this is a historical reason as momentum dies in bull market, FUT and option selling suited market. Tomorrow 22710 will be an important resistance, a shooting star in 5 Min TF will be good to short. Below 22600 we will short.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22710 then we will long for the target of 22865.
For selling we need a 15 Min candle close below 22600. T- 22420.
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.
