NIFTY Intraday Trade Setup For 24 Aug 2023
Bullish-Above 19475
Invalid-Below 19425
T- 19545 19615
Bearish-Below 19415
Invalid-Above 19465
T- 19335 19250
NIFTY has closed on a slight bullish note with 0.25% gain today. It was a bit range bound unlike BNF. It was inside yesterday's range for the majority of time. Buy triggered in the 2nd half which ended at cost EOD. Nifty is near key resistance in hourly TF where break of 19485 will initiate a bullish reversal move. 19475 and 19415 are important levels for tomorrow's session. Good momentum can be expected on this range breakout. Upside momentum depends upon 19500 CE short covering.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 19475 then we will long for the target of 19545 and 19615.
For selling we need a 15 Min candle close below 19415. T- 19335 and 19250.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Bullish-Above 19475
Invalid-Below 19425
T- 19545 19615
Bearish-Below 19415
Invalid-Above 19465
T- 19335 19250
NIFTY has closed on a slight bullish note with 0.25% gain today. It was a bit range bound unlike BNF. It was inside yesterday's range for the majority of time. Buy triggered in the 2nd half which ended at cost EOD. Nifty is near key resistance in hourly TF where break of 19485 will initiate a bullish reversal move. 19475 and 19415 are important levels for tomorrow's session. Good momentum can be expected on this range breakout. Upside momentum depends upon 19500 CE short covering.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 19475 then we will long for the target of 19545 and 19615.
For selling we need a 15 Min candle close below 19415. T- 19335 and 19250.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
