NIFTY Intraday Trade Setup For 12 Jan 2024
Bullish-Above 21730
Invalid-Below 21680
T- 21860 22015
Bearish-Below 21590
Invalid-Above 21640
T- 21450 21300
NIFTY has closed on almost on a flat note with minor gain of 0.13% today. It opened with a gap up near hourly upper trendline of the parallel channel. Trendline was respected and fall of almost 90 points came. Closing basis it was just another consolidation day. Till the time index is trading in this hourly parallel channel intraday will be choppy. Directional traders need to wait for its breakout, high probable in the upside. Tomorrow 21730 and 21590 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21860 and 22015.
For selling we need a 15 Min candle close below 21590. T- 21450 and 21300.
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 21730
Invalid-Below 21680
T- 21860 22015
Bearish-Below 21590
Invalid-Above 21640
T- 21450 21300
NIFTY has closed on almost on a flat note with minor gain of 0.13% today. It opened with a gap up near hourly upper trendline of the parallel channel. Trendline was respected and fall of almost 90 points came. Closing basis it was just another consolidation day. Till the time index is trading in this hourly parallel channel intraday will be choppy. Directional traders need to wait for its breakout, high probable in the upside. Tomorrow 21730 and 21590 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21860 and 22015.
For selling we need a 15 Min candle close below 21590. T- 21450 and 21300.
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.
