NIFTY Intraday Trade Setup For 21 Aug 2024
NIFTY Intraday Trade Setup For 21 Aug 2024
Bullish-Above 24740
Invalid-Below 24690
T- 24960
Bearish-Below 24600
Invalid-Above 24650
T- 24390
NIFTY has closed on bullish note with 0.51% gain today. Buy triggered as per trade setup above 24650 and made a high of 24734, just after small rally of 45 Min it turned total sideways for the rest of the day. As stated in the weekend analysis that we are likely to fill the two gap areas in daily TF, one of them achieved today. Now fair chance of a reversal from the gap resistance area but will be confirmed below 24600 only. Above 24740 it will head towards 25k.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24740 then we will long for the target of 24960.
For selling we need a 15 Min candle close below 24600. T- 24390.
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 24740
Invalid-Below 24690
T- 24960
Bearish-Below 24600
Invalid-Above 24650
T- 24390
NIFTY has closed on bullish note with 0.51% gain today. Buy triggered as per trade setup above 24650 and made a high of 24734, just after small rally of 45 Min it turned total sideways for the rest of the day. As stated in the weekend analysis that we are likely to fill the two gap areas in daily TF, one of them achieved today. Now fair chance of a reversal from the gap resistance area but will be confirmed below 24600 only. Above 24740 it will head towards 25k.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24740 then we will long for the target of 24960.
For selling we need a 15 Min candle close below 24600. T- 24390.
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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