NIFTY Intraday Trade Setup For 20 Nov 2023
Bullish-Above 19810
Invalid-Below 19760
T- 19930 20050
Bearish-Below 19660
Invalid-Above 19710
T- 19540 19393
NIFTY has closed with a slight bullish note last week with nearly 1% gain. Hourly and 15 Min price structure is still bullish. 19660 is the last swing low in 15 Min TF. Below this there can change of price structure and a chance of reversal. For a fresh directional move this month candle closing is important to watch directional scenario as the monthly candle's are still sideways. In case of a bold bullish candle we may initiate the next leg of rally.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 19810 then we will long for the target of 19930 and 20050.
For selling we need a 15 min candle close below 19660. T- 19540 and 19390.
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 19810
Invalid-Below 19760
T- 19930 20050
Bearish-Below 19660
Invalid-Above 19710
T- 19540 19393
NIFTY has closed with a slight bullish note last week with nearly 1% gain. Hourly and 15 Min price structure is still bullish. 19660 is the last swing low in 15 Min TF. Below this there can change of price structure and a chance of reversal. For a fresh directional move this month candle closing is important to watch directional scenario as the monthly candle's are still sideways. In case of a bold bullish candle we may initiate the next leg of rally.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 19810 then we will long for the target of 19930 and 20050.
For selling we need a 15 min candle close below 19660. T- 19540 and 19390.
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.
