NIFTY Intraday Trade Setup For 6 Jan 2025
NIFTY Intraday Trade Setup For 6 Jan 2025
Bullish- Above 24230
Invalid-Below 24180
T- 24500
Bearish-Below 23900
Invalid-Above 23950
T- 23650
NIFTY has closed on a slight bullish note last week but technically it is a neutral candle. In daily TF, 50 EMA is tested and got rejected. Now if index gives 50 EMA breakout then we will maintain buy on dips approach. 24250 is the last hourly swing high, an important level for bullish reversal.23200 is major weekly level, breakdown will lead to a short term crash.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24230 then we will long for the target of 24500+.
For selling we need a 15 Min candle close below 23900. T- 23650.
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 24230
Invalid-Below 24180
T- 24500
Bearish-Below 23900
Invalid-Above 23950
T- 23650
NIFTY has closed on a slight bullish note last week but technically it is a neutral candle. In daily TF, 50 EMA is tested and got rejected. Now if index gives 50 EMA breakout then we will maintain buy on dips approach. 24250 is the last hourly swing high, an important level for bullish reversal.23200 is major weekly level, breakdown will lead to a short term crash.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24230 then we will long for the target of 24500+.
For selling we need a 15 Min candle close below 23900. T- 23650.
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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