NIFTY Intraday Trade Setup For 18 Mar 2024
Bullish-Above 22130
Invalid-Below 22080
T- 22345 22550
Bearish-Below 21900
Invalid-Above 21950
T- 21634 21400
NIFTY has closed on a bearish note on a bearish note with 2% cut last week. It has got rejected from from 2.618 PRZ in weekly TF which was pretty obvious. Below 21850 we will get a breakout of channel in daily TF. After a bold bearish candle on 13 Mar the next two consecutive candles were inside candles. which is a sign of compression before a big/parabolic move. Below 21900 downside move will be triggered which will be confirmed below 21850 EOD.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22130 then we will long for the target of 22345 and 22550.
For selling we need a 15 Min candle close below 21900. T- 21634 and 21400.
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 22130
Invalid-Below 22080
T- 22345 22550
Bearish-Below 21900
Invalid-Above 21950
T- 21634 21400
NIFTY has closed on a bearish note on a bearish note with 2% cut last week. It has got rejected from from 2.618 PRZ in weekly TF which was pretty obvious. Below 21850 we will get a breakout of channel in daily TF. After a bold bearish candle on 13 Mar the next two consecutive candles were inside candles. which is a sign of compression before a big/parabolic move. Below 21900 downside move will be triggered which will be confirmed below 21850 EOD.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22130 then we will long for the target of 22345 and 22550.
For selling we need a 15 Min candle close below 21900. T- 21634 and 21400.
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.
