NIFTY Intraday Trade Setup For 16 Dec 2024

6시간 전

NIFTY Intraday Trade Setup For 16 Dec 2024

Bullish-Above 24870
Invalid-Below 24820
T- 25150

2nd Buy-From 24485
Invalid-Below 24435
T- 24660

NIFTY has closed on a slight bullish note with 0.37% gain last week. Whole week was contracted and only on last day of the week there was good length move in intraday. It has formed an inside candle in weekly TF which also resembles contraction. Overall index is buy on dips till it is above 50 EMA in daily TF. 24870 is the breakout level and 24485 is strong support zone.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24870 then we will long for the target of 25150.

We will buy from 24485 in case it is tested. T- 24660.

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.