Nifty Trading Strategy for 14th November 2024Nifty Trading Strategy: Buy Above 23,710 / Sell Below 23,500
Current Price: 23,559
Key Levels:
Buy Signal: If the price closes above 23,710 on the 15-minute candle, it indicates a potential upward trend, suggesting a good time to consider buying.
Sell Signal: If the price closes below 23,500 on the 15-minute candle, it suggests a potential downward trend, indicating it might be a good time to consider selling.
Market Analysis:
The current price is hovering around 23,559, just below the buy signal level.
It's important to monitor the price closely, especially around the 23,550 to 23,700 levels, which could act as support or resistance.
Recommendations:
Buy: If the price sustains above 23,710 on the 15-minute candle close, consider entering long positions. Book profit at regular intervals or use a trailing stop loss to protect your profit, with targets at 23,800 and 23,900.
Sell: If the price breaks below 23,500 on the 15-minute candle close, consider short positions. Book profit at regular intervals or use a trailing stop loss to protect your profit, with targets at 23,400 and 23,300.
Disclaimer: I am not SEBI registered. This is only for educational purposes. You may do your own analysis before taking any trading decisions.
