NIFTY Intraday Trade Setup For 26 Feb 2024
Bullish-Above 22300
Invalid-Below 22250
T- 22465 22630
Bearish-Below 22180
Invalid-Above 22230
T- 22035
NIFTY has closed on a slight bullish note with 0.78% gain last week. However it has closed at an All time high. Above 22300 it should start a good up move at-least in intraday. On Monday if 22035 is tested then it will be a strong intraday support and we can plan a bullish trade with bullish price action in 5 Min TF. Coming to hourly TF, 21850 is the last swing low below which it will trigger a bearish move. Till the time it is safe, we will maintain a bullish bias.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22300 then we will long for the target of 22465 and 22630.
For selling we need a 15 Min candle closes below 22180. T- 22035 and 21850.
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 22300
Invalid-Below 22250
T- 22465 22630
Bearish-Below 22180
Invalid-Above 22230
T- 22035
NIFTY has closed on a slight bullish note with 0.78% gain last week. However it has closed at an All time high. Above 22300 it should start a good up move at-least in intraday. On Monday if 22035 is tested then it will be a strong intraday support and we can plan a bullish trade with bullish price action in 5 Min TF. Coming to hourly TF, 21850 is the last swing low below which it will trigger a bearish move. Till the time it is safe, we will maintain a bullish bias.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22300 then we will long for the target of 22465 and 22630.
For selling we need a 15 Min candle closes below 22180. T- 22035 and 21850.
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.
