NIFTY Intraday Trade Setup For 22 Mar 2024
Bullish-Above 22100
Invalid-Below 22050
T- 22315 22530
Bearish-Below 21940
Invalid-Above 21990
T- 21700 21480
NIFTY has closed on a bullish note with 0.79% gain today but all contributed through gap up opening. It was was more or less seller's expiry. Breakdown of the 50 EMA could not be sustained. Now we need a fresh bearish price action in daily TF for a fresh short view, which I will update here. Index has formed doji type candle in daily TF so below 21940 there can good bearish grip once again. In case it opens below 22080 then above 22100 we will plan a long trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22100 then we will long for the target of 22315 and 22530.
For selling we need a 15 Min candle close below 21940. T- 21710 and 21480.
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 22100
Invalid-Below 22050
T- 22315 22530
Bearish-Below 21940
Invalid-Above 21990
T- 21700 21480
NIFTY has closed on a bullish note with 0.79% gain today but all contributed through gap up opening. It was was more or less seller's expiry. Breakdown of the 50 EMA could not be sustained. Now we need a fresh bearish price action in daily TF for a fresh short view, which I will update here. Index has formed doji type candle in daily TF so below 21940 there can good bearish grip once again. In case it opens below 22080 then above 22100 we will plan a long trade.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22100 then we will long for the target of 22315 and 22530.
For selling we need a 15 Min candle close below 21940. T- 21710 and 21480.
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.
