NIFTY Intraday Trade Setup For 24 Jun 2024
Bullish-Above 23680
Invalid-Below 23630
T- 23917
Bearish-Below 23390
Invalid-Above 23440
T- 23185
NIFTY has closed almost on a flat note last week. It has formed a spinning top candle in weekly TF which indicates halt or reversal of the uptrend. In case low- 23390 is crossed then it can act as a reversal signal in the short term. Above 23680 index may resume slow and steady upmove. Last week it was directionless market, we can expect directional move in the coming week. Be neutral till index is inside 23680 and 23390.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23680 then we will long for the target of 23917.
For selling we need a 15 Min candle close below 23390. T- 23185.
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 23680
Invalid-Below 23630
T- 23917
Bearish-Below 23390
Invalid-Above 23440
T- 23185
NIFTY has closed almost on a flat note last week. It has formed a spinning top candle in weekly TF which indicates halt or reversal of the uptrend. In case low- 23390 is crossed then it can act as a reversal signal in the short term. Above 23680 index may resume slow and steady upmove. Last week it was directionless market, we can expect directional move in the coming week. Be neutral till index is inside 23680 and 23390.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23680 then we will long for the target of 23917.
For selling we need a 15 Min candle close below 23390. T- 23185.
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.
