NIFTY Intraday Trade Setup For 22 Aug 2024
NIFTY Intraday Trade Setup For 22 Aug 2024
Bullish-Above 24800
Invalid-Below 24750
T- 25030
Bearish-Below 24650
Invalid-Above 24700
T- 24470
NIFTY has closed on a bullish note with 0.29% today. Since last few days index move's have been contracted to 100 points only. In the weekend we already discussed that index is likely to fill both the gaps in daily TF, one is filled and now on path to fill 2nd one. Once again if index sustains 24800 post 10 o'clock then possibility of 25k will be high. Below 24650 bears will grip or else it will be sideways to bullish day tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24800 then we will long for the target of 25030.
For selling we need a 15 Min candle close below 24650. T- 24470.
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 24800
Invalid-Below 24750
T- 25030
Bearish-Below 24650
Invalid-Above 24700
T- 24470
NIFTY has closed on a bullish note with 0.29% today. Since last few days index move's have been contracted to 100 points only. In the weekend we already discussed that index is likely to fill both the gaps in daily TF, one is filled and now on path to fill 2nd one. Once again if index sustains 24800 post 10 o'clock then possibility of 25k will be high. Below 24650 bears will grip or else it will be sideways to bullish day tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24800 then we will long for the target of 25030.
For selling we need a 15 Min candle close below 24650. T- 24470.
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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