NIFTY Intraday Trade Setup For 15 Nov 2023
Bullish-Above 19465
Invalid-Below 19415
T- 19550 19635
Bearish-Below 19410
Invalid-Above 19460
T- 19309 19210
NIFTY has closed on a bearish note with 0.42% cut in the last session. In the weekend we discussed that index has given a good up move on 19250 breakout and has approached 19550 which is a resistance zone. Probability of a fall or a pullback from 19550 was discussed. Monday we saw the scenario into action. Now below 19410 bearish move will continue till the trendline support in hourly TF. If it sustains above 19465 then we will plan bullish trade in intraday.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 19465 then we will long for the target of 19550 and 19435.
For selling we need a 15 min candle close below 19410. T- 19309 and 19210.
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 19465
Invalid-Below 19415
T- 19550 19635
Bearish-Below 19410
Invalid-Above 19460
T- 19309 19210
NIFTY has closed on a bearish note with 0.42% cut in the last session. In the weekend we discussed that index has given a good up move on 19250 breakout and has approached 19550 which is a resistance zone. Probability of a fall or a pullback from 19550 was discussed. Monday we saw the scenario into action. Now below 19410 bearish move will continue till the trendline support in hourly TF. If it sustains above 19465 then we will plan bullish trade in intraday.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 19465 then we will long for the target of 19550 and 19435.
For selling we need a 15 min candle close below 19410. T- 19309 and 19210.
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.
