NIFTY Intraday Trade Setup For 17 May 2024
NIFTY Intraday Trade Setup For 17 May 2024
Bullish-Above 22450
Invalid-Below 22400
T- 22675 N-ATH
Bearish- Below 22240
Invalid-Above 22290
T- 22050 21800
NIFTY has closed on a bold bullish note with 0.92% gain today. It was moving randomly but last leg move established and closed on a bold bullish note. Index has formed a long wick rejection candle like 13 May. So will simply trade the current trend and sentiment in power. Above today's high on a flat opening we will get get the best trade. Look like Index is all set for a fresh ATH. 22240 will act as a support zone but below this will short.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22675.
For selling we need a 15 Min candle close below 22240. T- 22050.
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.
Bullish-Above 22450
Invalid-Below 22400
T- 22675 N-ATH
Bearish- Below 22240
Invalid-Above 22290
T- 22050 21800
NIFTY has closed on a bold bullish note with 0.92% gain today. It was moving randomly but last leg move established and closed on a bold bullish note. Index has formed a long wick rejection candle like 13 May. So will simply trade the current trend and sentiment in power. Above today's high on a flat opening we will get get the best trade. Look like Index is all set for a fresh ATH. 22240 will act as a support zone but below this will short.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22675.
For selling we need a 15 Min candle close below 22240. T- 22050.
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.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.