NIFTY Intraday Trade Setup For 18 Jun 2024
NIFTY Intraday Trade Setup For 18 Jun 2024
Bullish-Above 23500
Invalid-Below 23450
T- 23725
Bearish-Below 23330
Invalid-Above 23380
T- 23120
NIFTY has closed on a slight positive note with 0.45% gain last week. It was totally sideways as whole week's range was less than 300 points. It has formed a Pinbar candle in daily TF on Friday which indicates a bullish start of the week on Tuesday most probably. Friday's low will be an important swing low in terms of bearish reversal on Tuesday. Between 23500 and 23330 we will maintain a non-directional approach.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 23500 then we will long for the target of 23725.
For selling we need a 15 Min candle close below 23330. T- 23125.
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 23500
Invalid-Below 23450
T- 23725
Bearish-Below 23330
Invalid-Above 23380
T- 23120
NIFTY has closed on a slight positive note with 0.45% gain last week. It was totally sideways as whole week's range was less than 300 points. It has formed a Pinbar candle in daily TF on Friday which indicates a bullish start of the week on Tuesday most probably. Friday's low will be an important swing low in terms of bearish reversal on Tuesday. Between 23500 and 23330 we will maintain a non-directional approach.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 23500 then we will long for the target of 23725.
For selling we need a 15 Min candle close below 23330. T- 23125.
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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