NIFTY Intraday Trade Setup For 29 Nov 2023

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 29 Nov 2023

Bullish-Above 19920
Invalid-Below 19870
T- 20025 20135

Bearish-Below 19860
Invalid-Above 19910
T- 19757 19655

NIFTY has closed on a bullish note with 0.48% gain today. Buy triggered when intraday was almost done, post 3 PM. Momentum was dead till 2 PM. Now there is a slight chance of change in momentum, but only on flat opening. In case of gap up/down opening momentum will be dead once again. Also reduce your position sizing in intraday directional trades. 19920 and 19860 are important levels for tomorrow's session.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19920 then we will long for the target of 20025 and 20135.

For selling we need a 15 Min candle close below 19860. T- 19757 and 19655.

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.


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