NIFTY Intraday Trade Setup For 19 Feb 2024
Bullish-Above 22080
Invalid-Above 22030
T- 22300 22520
Bearish-Below 21950
Invalid-Below 22000
T- 21735
NIFTY has closed on a slight bullish note last week and day with 1.19% and 0.59% gain respectively. It is at a striking distance to ATH and chances of a fresh bullish move above 22150 is high. 2nd leg shooting star will be invalid above 22130. But before it triggers a bullish move above 22150 it may dip for a pullback to fuel the impulse on breakout. So on Monday if there is a gap up and below 1st 5 Min candle's low it can trigger a down move.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22080 then we will long for the target of 22300 and 22520.
For selling we need a 15 Min candle close below 21950. T-21735
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 22080
Invalid-Above 22030
T- 22300 22520
Bearish-Below 21950
Invalid-Below 22000
T- 21735
NIFTY has closed on a slight bullish note last week and day with 1.19% and 0.59% gain respectively. It is at a striking distance to ATH and chances of a fresh bullish move above 22150 is high. 2nd leg shooting star will be invalid above 22130. But before it triggers a bullish move above 22150 it may dip for a pullback to fuel the impulse on breakout. So on Monday if there is a gap up and below 1st 5 Min candle's low it can trigger a down move.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22080 then we will long for the target of 22300 and 22520.
For selling we need a 15 Min candle close below 21950. T-21735
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.
