NIFTY Intraday Trade Setup For 15 Apr 2024

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 15 Apr 2024

Sell_1- From 22660
Invalid-Above 22710
T- 22500

Bearish-Below 22500
Invalid-Above 22550
T- 22300

NIFTY has closed with a bearish sentiment last week. It has formed a shooting star candle in weekly TF that too in the 2nd leg which I personally consider. There is a strong possibility of NIFTY topping out atleast for short term if it trades firmly below 22500 with ATH as risk. If there is gap up opening then we will plan a short trade from 22660 or else flat opening short below 22500 will be ideal trade.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle below 22500 then we will short for the target of 22300 and then trail in 5 Min TF.

On case of a gap up we will short from 22660. T- 22500.

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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