NIFTY Intraday Trade Setup For 11 Aug 2023
Bullish-Above 19650
Invalid-Below 19600
T- 19745 19845
Bearish-Below 19490
Invalid-Above 19540
T- 19381 19280
NIFTY has closed on a bearish note with 0.46% cut today. Nothing triggered as per trade setup today. It was discussed that if it opens gap down then 19530 zone can act as a support and it gave a small bounce of more than 50 points. It was volatile and then turned sideways as IV cool off after RBI announcement. Important levels are 19650 and 19490 for tomorrow's session to look for breakout. In case of a flat opening above 19560 there can be some bounce, however buy level is 19650.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19650 then we will long for the target of 19745 and 19845.
For selling we need a 15 min candle close below 19490. T- 19381 and 19280.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Bullish-Above 19650
Invalid-Below 19600
T- 19745 19845
Bearish-Below 19490
Invalid-Above 19540
T- 19381 19280
NIFTY has closed on a bearish note with 0.46% cut today. Nothing triggered as per trade setup today. It was discussed that if it opens gap down then 19530 zone can act as a support and it gave a small bounce of more than 50 points. It was volatile and then turned sideways as IV cool off after RBI announcement. Important levels are 19650 and 19490 for tomorrow's session to look for breakout. In case of a flat opening above 19560 there can be some bounce, however buy level is 19650.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19650 then we will long for the target of 19745 and 19845.
For selling we need a 15 min candle close below 19490. T- 19381 and 19280.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
