NIFTY Intraday Trade Setup For 15 Jan 2024
Bullish-Above 21930
Invalid-Below 21880
T- 22070 22195
Bearish-Below 21800
Invalid-Below 21850
T- 21642 21508
NIFTY has closed on a slight positive note with 0.85% gain last week. Index looks ready to break 22k mark with 3rd quarter results. Index will face a major resistance near 22500 as per ABCD PRZ (2.618) in weekly TF. No Point in looking for short (swing) till 22500. On Friday index broke 10 days contraction pattern (parallel channel) which held index in a tight range. Also we need to observe the daily price action for riding the trend till the fullest, till the time index is in bullish price structure. 21930 and 21800 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21930 then we will long for the target of 22070 and 22195.
For selling we need a 15 Min candle close below 21800. T- 21642 and 21508.
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 21930
Invalid-Below 21880
T- 22070 22195
Bearish-Below 21800
Invalid-Below 21850
T- 21642 21508
NIFTY has closed on a slight positive note with 0.85% gain last week. Index looks ready to break 22k mark with 3rd quarter results. Index will face a major resistance near 22500 as per ABCD PRZ (2.618) in weekly TF. No Point in looking for short (swing) till 22500. On Friday index broke 10 days contraction pattern (parallel channel) which held index in a tight range. Also we need to observe the daily price action for riding the trend till the fullest, till the time index is in bullish price structure. 21930 and 21800 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21930 then we will long for the target of 22070 and 22195.
For selling we need a 15 Min candle close below 21800. T- 21642 and 21508.
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.
