NIFTY Weekly Outlook | Intraday Trade Setup For 25 Sep 2023

NIFTY Intraday Trade Setup For 25 Sep 2023

Bullish-Above 19725
Invalid-Below 19675
T- 19810 19915

Bearish-Below 19650
Invalid-Above 19700
T- 19550 19445

NIFTY has closed on a full bearish note last week with 2.57% cut, wiped 50% gain of Sep month. For the next week 19550-19600 will act as support zone as 50 EMA and 0.618 both lies near that zone (Daily TF). After a probable pullback from this support zone if it makes a bearish price structure in daily TF, we will plan our positional short trade. Probable pullback can come till 0.382 and then 0.618 from ATH to the bottom that will be created.

https://www.tradingview.com/x/BHZQOE0g/

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below 19650 then we will short. T- 19550-70 and 19445.

For buying we need a 15 Min candle close above 19725. After a rejection/pullback this will be considered. T- 19810 and 19915.

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.