NIFTY Intraday Trade Setup For 29 Aug 2024
NIFTY Intraday Trade Setup For 29 Aug 2024
Bullish-Above 25130
Invalid-Below 25080
T- 25350
Bearish-Below 24950
Invalid-Above 25000
T- 24770
NIFTY has closed almost on a flat note with slight gain of 0.14% today. It is making a parallel channel however its rising so ideally it will give best momentum in the downside if lower trendline breakout happens. However there is equal probability of breakout in the upside too. Also any daily candle close below PDL will change sentiment to bearish till then approach will be sideways to bullish.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 25130 then we will long for the target of 25350.
For selling we need a 15 Min candle close below 24950. T- 24770.
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 25130
Invalid-Below 25080
T- 25350
Bearish-Below 24950
Invalid-Above 25000
T- 24770
NIFTY has closed almost on a flat note with slight gain of 0.14% today. It is making a parallel channel however its rising so ideally it will give best momentum in the downside if lower trendline breakout happens. However there is equal probability of breakout in the upside too. Also any daily candle close below PDL will change sentiment to bearish till then approach will be sideways to bullish.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 25130 then we will long for the target of 25350.
For selling we need a 15 Min candle close below 24950. T- 24770.
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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