NIFTY Intraday Trade Setup For 12 Mar 2024
Bullish-Above 22450
Invalid-Below 22400
T- 22655
Bearish-Below 22300
Invalid-Above 22350
T- 22090 21900
NIFTY has closed on a bearish note with 0.72% cut today. Sell triggered as per trade setup below 22430 and gave a move till 22310, targets were not achieved although it gave 100+ points gain. Tomorrow 22450 is the key level for a bullish reversal on a flat opening or opening below 22430. In case it opens gap up near 22505 then a sell off can be seen once again. Index has been trading in the parallel channel in daily TF and has been rejected from mid line of that.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22655.
For selling we need a 15 Min candle close below 22300. T- 22090 and 21900.
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 22450
Invalid-Below 22400
T- 22655
Bearish-Below 22300
Invalid-Above 22350
T- 22090 21900
NIFTY has closed on a bearish note with 0.72% cut today. Sell triggered as per trade setup below 22430 and gave a move till 22310, targets were not achieved although it gave 100+ points gain. Tomorrow 22450 is the key level for a bullish reversal on a flat opening or opening below 22430. In case it opens gap up near 22505 then a sell off can be seen once again. Index has been trading in the parallel channel in daily TF and has been rejected from mid line of that.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22655.
For selling we need a 15 Min candle close below 22300. T- 22090 and 21900.
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.
