NIFTY Intraday Trade Setup For 15 May 2024

NIFTY Intraday Trade Setup For 15 May 2024

Bullish-Above 22280
Invalid-Below 22230
T- 22500

Bearish-Below 22080
Invalid-Above 22130
T- 21800

NIFTY has closed on a bullish note with 0.51% gain today. Unlike BANKNIFTY it was trendy after 11 o'clock. Buy triggered as per trade setup above 22150 and gave a move till 22270, however target was not achieved. On a flat opening there can be another good trendy day above 22270. 22370 looks as an confluence zone in case of a gap up. Currently bulls have overpowered so will maintain a bullish view.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22280 then we will long for the target of 22500.

For selling we need a 15 Min candle close below 22080. T- 21800.

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.