NIFTY Intraday Trade Setup For 24 May 2024
Bullish-Above 23000
Invalid-Below 22950
T- 22210
Bearish-Below 22790
Invalid-Above 22840
T- 22575
NIFTY has closed a record high with 1.64% gain today. Index has given a strong breakout of the weekly Range. FIIs have also turned buyer today after a long time. Chances of a 90 degree angle move is high followed by a consolidation breakout now. Next stop seems near 23850 in daily TF as per range calculation. Tomorrow above 23000 there can another strong move in intraday and best suited will be on flat opening. 22790 will be intra support.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 23k then we will long for the target of 23210.
For selling we need a 15 Min candle close below 22790. T- 22575.
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 23000
Invalid-Below 22950
T- 22210
Bearish-Below 22790
Invalid-Above 22840
T- 22575
NIFTY has closed a record high with 1.64% gain today. Index has given a strong breakout of the weekly Range. FIIs have also turned buyer today after a long time. Chances of a 90 degree angle move is high followed by a consolidation breakout now. Next stop seems near 23850 in daily TF as per range calculation. Tomorrow above 23000 there can another strong move in intraday and best suited will be on flat opening. 22790 will be intra support.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 23k then we will long for the target of 23210.
For selling we need a 15 Min candle close below 22790. T- 22575.
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.
