NIFTY Intraday Trade Setup For 21 Dec 2023
Bullish-Above 21230
Invalid-Below 21180
T- 21400
Bearish-Below 21070
Invalid-Above 21120
T- 20920 20770
NIFTY has closed on a bold bearish note after months. It has formed an clear cut bearish engulfing candle in daily charts with 1.41% cut. It looks like NIFTY has formed a short term top at 21600. Next important support level seems near 20750-70. We will pan bullish view from there if we get a bullish price structure in 15 Min TF. Tomorrow in case we open flat and candle closes below 21070 then 20750-70 will be tested. In case today's low is safe and we make bullish price structure in 5 Min TF then we will give a sharp pullback.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21230 then we will long for the target of 21400 and above.
For selling we need a 15 Min candle close below 21070. T- 20920 and 20770.
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 21230
Invalid-Below 21180
T- 21400
Bearish-Below 21070
Invalid-Above 21120
T- 20920 20770
NIFTY has closed on a bold bearish note after months. It has formed an clear cut bearish engulfing candle in daily charts with 1.41% cut. It looks like NIFTY has formed a short term top at 21600. Next important support level seems near 20750-70. We will pan bullish view from there if we get a bullish price structure in 15 Min TF. Tomorrow in case we open flat and candle closes below 21070 then 20750-70 will be tested. In case today's low is safe and we make bullish price structure in 5 Min TF then we will give a sharp pullback.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21230 then we will long for the target of 21400 and above.
For selling we need a 15 Min candle close below 21070. T- 20920 and 20770.
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.
