NIFTY Intraday Trade Setup For 22 Feb 2024
Bullish-Above 22250
Invalid-Below 22200
T- 22465
Bearish-Below 21990
Invalid-Above 22040
T- 21790 21600
NIFTY has closed on a bearish note with 0.64% cut today. Buy triggered as per trade setup above 22220 which hit 50 points sl. It is like Open = High and sentiment was bearish the whole day. Tomorrow 22160 will be an confluence zone, can act as resistance. Above 22250 we will test 22465 and this is a strong resistance in weekly TF as per ABCD calculation. 21790 is going to be a strong support zone as per half bat (0.618).
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22250 then we will long for the target of 22465.
For selling we need a 15 Min candle close below 21990. T- 21790 and 21600.
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 22250
Invalid-Below 22200
T- 22465
Bearish-Below 21990
Invalid-Above 22040
T- 21790 21600
NIFTY has closed on a bearish note with 0.64% cut today. Buy triggered as per trade setup above 22220 which hit 50 points sl. It is like Open = High and sentiment was bearish the whole day. Tomorrow 22160 will be an confluence zone, can act as resistance. Above 22250 we will test 22465 and this is a strong resistance in weekly TF as per ABCD calculation. 21790 is going to be a strong support zone as per half bat (0.618).
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22250 then we will long for the target of 22465.
For selling we need a 15 Min candle close below 21990. T- 21790 and 21600.
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.
