NIFTY Intraday Trade Setup For 20 Jun 2024
Bullish-Above 23670
Invalid-Below 23620
T- 23865
Bearish-Below 23400
Invalid-Above 23450
T- 23190
NIFTY has closed on a slight bearish note with 0.18% cut today. It was a volatile day as it opened with a gap up and then strong sell off came once again it recovered and made a fresh day high. If today's high is not crossed tomorrow morning then it can be a bearish day tomorrow. However since 10 Jun index has been trading between the plotted channel. We need breakout for a good trendy move or else it will continue choppy moves.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 23670 then we will long for the target of 23865.
For selling we need a 15 Min candle close below 23400. T- 23190.
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 23670
Invalid-Below 23620
T- 23865
Bearish-Below 23400
Invalid-Above 23450
T- 23190
NIFTY has closed on a slight bearish note with 0.18% cut today. It was a volatile day as it opened with a gap up and then strong sell off came once again it recovered and made a fresh day high. If today's high is not crossed tomorrow morning then it can be a bearish day tomorrow. However since 10 Jun index has been trading between the plotted channel. We need breakout for a good trendy move or else it will continue choppy moves.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 23670 then we will long for the target of 23865.
For selling we need a 15 Min candle close below 23400. T- 23190.
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.
