NIFTY Intraday Trade Setup For 19 Aug 2024
NIFTY Intraday Trade Setup For 19 Aug 2024
Bullish-Above 24570
Invalid-Below 24520
T- 24850
Bearish-Below 24330
Invalid-Above 24380
T- 24100
NIFTY has closed on a slight bullish note with 0.71% gain last week. Index finally gave breakout of 24400 and 24000 daily TF range. Fair chance of both gap filling in daily TF. However recent sentiment was bearish so incase if index closes below 24400 in daily TF then chances of a false breakout will be high. Tomorrow we will plan a bullish trade above 24570 but considerable on a pullback breakout setup. 24330 will be an intra support.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24570 then we will long for the target of 24850.
For selling we need a 15 Min candle close below 24330. T- 24100.
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 24570
Invalid-Below 24520
T- 24850
Bearish-Below 24330
Invalid-Above 24380
T- 24100
NIFTY has closed on a slight bullish note with 0.71% gain last week. Index finally gave breakout of 24400 and 24000 daily TF range. Fair chance of both gap filling in daily TF. However recent sentiment was bearish so incase if index closes below 24400 in daily TF then chances of a false breakout will be high. Tomorrow we will plan a bullish trade above 24570 but considerable on a pullback breakout setup. 24330 will be an intra support.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24570 then we will long for the target of 24850.
For selling we need a 15 Min candle close below 24330. T- 24100.
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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