NIFTY Intraday Trade Setup For 19 Jan 2024
Bullish-Above 21540
Invalid-Below 21490
T- 21787 21979
Bearish-Below 21280
Invalid-Above 21330
T- 21095 20915
NIFTY has closed on a bearish note with 0.51% cut. It was another gap down day due to global negative cues and majorly HDFCBANK. 10 o'clock range was to be used as per trade setup. Range broke upside 21407 and gave a move till 21539. There was a sharp recovery from 21285 and it held itself at higher levels the rest day. It has formed a spinning top candle which tells indecisiveness, it can also act as reversal above its high , complete or partial that is another thing.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21540 then we will long for the target of 21787 and 21979.
For selling we need a 15 Min candle close below 21280. T- 21095 and 20915.
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 21540
Invalid-Below 21490
T- 21787 21979
Bearish-Below 21280
Invalid-Above 21330
T- 21095 20915
NIFTY has closed on a bearish note with 0.51% cut. It was another gap down day due to global negative cues and majorly HDFCBANK. 10 o'clock range was to be used as per trade setup. Range broke upside 21407 and gave a move till 21539. There was a sharp recovery from 21285 and it held itself at higher levels the rest day. It has formed a spinning top candle which tells indecisiveness, it can also act as reversal above its high , complete or partial that is another thing.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21540 then we will long for the target of 21787 and 21979.
For selling we need a 15 Min candle close below 21280. T- 21095 and 20915.
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.
