NIFTY Intraday Trade Setup For 11 Mar 2024
Bullish-Above 22530
Invalid-Below 22480
T- 22710 22850
Bearish-Below 22420
Invalid0Above 22470
T- 22200 21980
NIFTY has closed on a slight bullish note with 0.51% gain last week. Few week back in the weekend analysis it was discussed that index has been trading in a parallel channel in daily TF. Still index has maintained its pattern. This is not an clear impulse I personally feel, rather a stretch or distribution. Clear move will be seen on this pattern breakdown. Till then I have reduced my position size and have been focusing on non direction approach (strangles).
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22710 and 22850.
For selling we need a 15 Min candle close below 22420. T- 22200 and 21980.
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 22530
Invalid-Below 22480
T- 22710 22850
Bearish-Below 22420
Invalid0Above 22470
T- 22200 21980
NIFTY has closed on a slight bullish note with 0.51% gain last week. Few week back in the weekend analysis it was discussed that index has been trading in a parallel channel in daily TF. Still index has maintained its pattern. This is not an clear impulse I personally feel, rather a stretch or distribution. Clear move will be seen on this pattern breakdown. Till then I have reduced my position size and have been focusing on non direction approach (strangles).
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22710 and 22850.
For selling we need a 15 Min candle close below 22420. T- 22200 and 21980.
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.
