NIFTY Intraday Trade Setup For 15 May 2024
NIFTY Intraday Trade Setup For 15 May 2024
Bullish-Above 22280
Invalid-Below 22230
T- 22500
Bearish-Below 22080
Invalid-Above 22130
T- 21800
NIFTY has closed on a bullish note with 0.51% gain today. Unlike BANKNIFTY it was trendy after 11 o'clock. Buy triggered as per trade setup above 22150 and gave a move till 22270, however target was not achieved. On a flat opening there can be another good trendy day above 22270. 22370 looks as an confluence zone in case of a gap up. Currently bulls have overpowered so will maintain a bullish view.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22280 then we will long for the target of 22500.
For selling we need a 15 Min candle close below 22080. T- 21800.
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.
Bullish-Above 22280
Invalid-Below 22230
T- 22500
Bearish-Below 22080
Invalid-Above 22130
T- 21800
NIFTY has closed on a bullish note with 0.51% gain today. Unlike BANKNIFTY it was trendy after 11 o'clock. Buy triggered as per trade setup above 22150 and gave a move till 22270, however target was not achieved. On a flat opening there can be another good trendy day above 22270. 22370 looks as an confluence zone in case of a gap up. Currently bulls have overpowered so will maintain a bullish view.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22280 then we will long for the target of 22500.
For selling we need a 15 Min candle close below 22080. T- 21800.
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.