NIFTY Intraday Trade Setup For 13 Dec 2023
Bullish-Above 20980
Invalid-Below 20930
T- 21130 21300
Bearish-Below 20860
Invalid-Above 20910
T-20703 20540
NIFTY has closed on a bearish note after 2 days. It has closed below PDL so as per our trailing method opted we will exit longs (from 19880) completely below today's low- 20860. Yesterday a rising wedge in hourly TF scenario was discussed which has effected index to fall exactly from there. However our buy level was 21030 and market took resistance from there from the upper trendline (50 points sl). Tomorrow on a flat opening above and below 20980 and 20860 respectively we will plan our trades.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 20980 then we will long for the target of 21130 and 21300.
For selling we need a 15 Min candle close below 20860. T- 20703 and 20540.
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 20980
Invalid-Below 20930
T- 21130 21300
Bearish-Below 20860
Invalid-Above 20910
T-20703 20540
NIFTY has closed on a bearish note after 2 days. It has closed below PDL so as per our trailing method opted we will exit longs (from 19880) completely below today's low- 20860. Yesterday a rising wedge in hourly TF scenario was discussed which has effected index to fall exactly from there. However our buy level was 21030 and market took resistance from there from the upper trendline (50 points sl). Tomorrow on a flat opening above and below 20980 and 20860 respectively we will plan our trades.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 20980 then we will long for the target of 21130 and 21300.
For selling we need a 15 Min candle close below 20860. T- 20703 and 20540.
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.
