NIFTY Intraday Trade Setup For 17 Dec 2024

NIFTY Intraday Trade Setup For 17 Dec 2024

Bullish-Above 24860
Invalid-Below 24810
T- 25150

Bearish-Below 24570
Invalid-Above 24630
T- 24310

NIFTY has closed on a bearish note with 0.4% cut today. It has formed an inside candle in daily TF at previous swing high. In case it breaks 24800 tomorrow then a good momentum in the higher side can be seen as per compression setup. In case 24570 is broken then it can trigger a fall towards 24300.

Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24860 then we will long for the target of 25150.

For selling we need a 15 Min candle close below 24570. T- 24310.

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.