NIFTY Intraday Trade Setup For 26 Oct 2023 || Daily Analysis

NIFTY Intraday Trade Setup For 26 Oct 2023

Bullish- Above 19180
Invalid- Below 19130
T- 19300 19432

Bearish-Below 19070
Invalid- Above 19120
T- 18945 18810

NIFTY has closed on a complete bearish once again. Our short move towards 18960 is at a striking distance. In the weekend we already planned that below 19500 we will get a trendy downside move. It has just slipped in butter after that. Index has given more than 400 points fall in just 2 sessions. 18950 is going to a be a strong support zone for tomorrow's session. 19180 and 19070 are important levels for tomorrow's session.

Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19180 then we will long for the target of 19300 and 19432.

For selling we need a 15 Min candle close below 19070. T- 18945 ad 18810.

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.