NIFTY Intraday Trade Setup For 26 Jul 2024

NIFTY Intraday Trade Setup For 26 Jul 2024

Bullish-Above 24470
Invalid-Below 24420
T- 24685

Bearish-Below 24210
Invalid-Above 24260
T- 24012

NIFTY has closed on a flat note today after a big gap down. It opened directly below sell level however no candle closed below that. 10 o'clock range was to be used as per trade setup. Range broke upside above 24305 and gave a one way move till 24425, risk (last swing low) was around 30 points. If market opens flat tomorrow then we may see continuation of the bullish move above today's high. 24685 will be target as per plotted ABCD.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24465 then we will long for the target of 24685.

For selling we need a 15 Min candle close below 24200. T- 24k.

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.