NIFTY Intraday Trade Setup For 22 Jul 2024
NIFTY Intraday Trade Setup For 22 Jul 2024
Bullish-Above 24730
Invalid-Below 24680
T- 24930
Bearish-Below 24500
Invalid-Above 24550
T- 24290
NIFTY has closed on a flat note with a bearish sentiment as it ended the week near lowest point. It has not yet lost gains but sentiment has turned bearish. The coming week is likely to be volatile due to Union Budget placed on 23 Jul. One can avoid trading like we escaped Loksabha result week. In case 24730 is tested via gap up then it may face intra resistance. We will consider buy on pullback breakout setup only. 24730 and 24290 are levels for Monday.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24730 then we will long for the target of 24930.
For selling we need a 15 Min candle close below 24500. T- 24290.
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 24730
Invalid-Below 24680
T- 24930
Bearish-Below 24500
Invalid-Above 24550
T- 24290
NIFTY has closed on a flat note with a bearish sentiment as it ended the week near lowest point. It has not yet lost gains but sentiment has turned bearish. The coming week is likely to be volatile due to Union Budget placed on 23 Jul. One can avoid trading like we escaped Loksabha result week. In case 24730 is tested via gap up then it may face intra resistance. We will consider buy on pullback breakout setup only. 24730 and 24290 are levels for Monday.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24730 then we will long for the target of 24930.
For selling we need a 15 Min candle close below 24500. T- 24290.
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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