NIFTY Intraday Trade Setup For 24 Jan 2024
NIFTY Intraday Trade Setup For 24 Jan 2024
Sell_1- From 21550
Invalid-Above 21600
T- 21375 21200
Sell_2- Below 21190
Invalid-Above 21240
T- 20975 20765
NIFTY has closed on a complete bearish note with 1.54% cut today. Yesterday only we discussed that index has changed its trend to bearish and a short term top has been formed @ 22124. Market opened with a decent gap up and sell triggered below 21540 and gave a move till 21193. However 10 o'clock range broke early below 21665. Tomorrow there is a high probability of a pause candle, also there is a high chance of a pullback move to this impulsive down move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 21190 then we will short for the target of 20975 and 20765.
In case it tests 21550 via gap up or opening above 21200 then we will short from there. T- 21375 and 21200.
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.
Sell_1- From 21550
Invalid-Above 21600
T- 21375 21200
Sell_2- Below 21190
Invalid-Above 21240
T- 20975 20765
NIFTY has closed on a complete bearish note with 1.54% cut today. Yesterday only we discussed that index has changed its trend to bearish and a short term top has been formed @ 22124. Market opened with a decent gap up and sell triggered below 21540 and gave a move till 21193. However 10 o'clock range broke early below 21665. Tomorrow there is a high probability of a pause candle, also there is a high chance of a pullback move to this impulsive down move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 21190 then we will short for the target of 20975 and 20765.
In case it tests 21550 via gap up or opening above 21200 then we will short from there. T- 21375 and 21200.
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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