NIFTY Intraday Trade Setup For 14 Feb 2024
Bullish-Above 21770
Invalid-Below 21720
T- 22011 22190
Bearish-Below 21540
Invalid-Above 21590
T- 21339 21120
NIFTY has closed on a bullish note with 0.59% gain today. As per trade setup it traded between yesterday's range an nothing triggered. However plotted channel pattern was broken and bullishness continued till EOD. Hourly trend is still downside and last swing high is 21850 which can bring a reversal sign if taken out. Our swing short from 21800 is still intact with the initial risk @ 22130. Our short level for tomorrow is 21540 but early sign of reversal can be sensed below 21700.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21770 then we will long for the target of 22011 and 22190.
For selling we need a 15 Min candle close below 21540. T- 21339 and 21120.
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 21770
Invalid-Below 21720
T- 22011 22190
Bearish-Below 21540
Invalid-Above 21590
T- 21339 21120
NIFTY has closed on a bullish note with 0.59% gain today. As per trade setup it traded between yesterday's range an nothing triggered. However plotted channel pattern was broken and bullishness continued till EOD. Hourly trend is still downside and last swing high is 21850 which can bring a reversal sign if taken out. Our swing short from 21800 is still intact with the initial risk @ 22130. Our short level for tomorrow is 21540 but early sign of reversal can be sensed below 21700.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21770 then we will long for the target of 22011 and 22190.
For selling we need a 15 Min candle close below 21540. T- 21339 and 21120.
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.
