NIFTY Intraday Trade Setup For 19 Jun 2024
Bullish-Above 23600
Invalid-Below 23550
T- 23770
Bearish-Below 23490
Invalid-Above 23540
T- 23265
NIFTY has closed on a good positive note with 0.39% gain. After many days index broke 23500 and held that. But I said that I am expecting a good upside move with good momentum, it settled at higher price but momentum did not come. Overall it was a zoned market. It has formed a Pinbar candle in daily TF so be alert of its low for bear entry. 23600 and 23490 will be tomorrow's range to look for breakout.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23600 then we will long for the target of 23770.
For selling we need a 15 Min candle close below 23490. T- 23265.
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 23600
Invalid-Below 23550
T- 23770
Bearish-Below 23490
Invalid-Above 23540
T- 23265
NIFTY has closed on a good positive note with 0.39% gain. After many days index broke 23500 and held that. But I said that I am expecting a good upside move with good momentum, it settled at higher price but momentum did not come. Overall it was a zoned market. It has formed a Pinbar candle in daily TF so be alert of its low for bear entry. 23600 and 23490 will be tomorrow's range to look for breakout.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23600 then we will long for the target of 23770.
For selling we need a 15 Min candle close below 23490. T- 23265.
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.
