NIFTY Intraday Trade Setup For 9 Aug 2024
NIFTY Intraday Trade Setup For 9 Aug 2024
Bullish-Above 24390
Invalid-Below 24340
T- 24650
Bearish-Below 23890
Invalid-Above 23940
T- 23515
NIFTY has closed on a bearish note with 0.74% cut. Since last 4 sessions we are stuck inside 500 points range- 24400 and 23900. We will trade directional only when we get this range breakout. It was sideways with huge volatility, mostly sl hunting moves. We will be neutral and wait patiently for breakout. However above 24450 there can trigger for short covering.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24650.
For selling we need a 15 Min candle close below 23890. T- 23515.
For selling we need a 15 Min candle close below 23890. T- 23515.
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 24390
Invalid-Below 24340
T- 24650
Bearish-Below 23890
Invalid-Above 23940
T- 23515
NIFTY has closed on a bearish note with 0.74% cut. Since last 4 sessions we are stuck inside 500 points range- 24400 and 23900. We will trade directional only when we get this range breakout. It was sideways with huge volatility, mostly sl hunting moves. We will be neutral and wait patiently for breakout. However above 24450 there can trigger for short covering.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24650.
For selling we need a 15 Min candle close below 23890. T- 23515.
For selling we need a 15 Min candle close below 23890. T- 23515.
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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