NIFTY Intraday Trade Setup For 23 Aug 2024
NIFTY Intraday Trade Setup For 23 Aug 2024
Bullish-Above 24880
Invalid-Below 24830
T- 25055
Bearish-Below 24780
Invalid-Above 24830
T- 24600
NIFTY has closed with slight gain of 0.17% gain today. It was another sideways day with less than 100 points range. Intraday momentum and trend is directionless although it is inching higher on closing basis. In the weekend we discussed possibility of both gap filling in daily TF. Since start of this week index is being pulled to those levels. VIX has to shoot up in order to get a directional trading opportunities in intraday.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24880 then we will long for the target of 25055.
For selling we need a 15 Min candle close below 24780. T- 24600.
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 24880
Invalid-Below 24830
T- 25055
Bearish-Below 24780
Invalid-Above 24830
T- 24600
NIFTY has closed with slight gain of 0.17% gain today. It was another sideways day with less than 100 points range. Intraday momentum and trend is directionless although it is inching higher on closing basis. In the weekend we discussed possibility of both gap filling in daily TF. Since start of this week index is being pulled to those levels. VIX has to shoot up in order to get a directional trading opportunities in intraday.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24880 then we will long for the target of 25055.
For selling we need a 15 Min candle close below 24780. T- 24600.
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.
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