NIFTY Intraday Trade Setup For 23 Jan 2024
Bullish-Above 21730
Invalid-Below 21680
T- 21930 22125
Bearish-Below 21540
Invalid-Above 21590
T- 21345 21095
NIFTY has closed on a bearish note last week with 1.47% cut last week. It has engulfed last two weeks gain entirely, also an sustained exhaustion gap day was observed on 17 Jan 2024. This looks like a short term top @ 22124. No bullish trades (swings) till it is lower than 22124. We will focus more on selling opportunity. Important hourly swings are placed @ 22150 and 21280. A good momentum will pick on this range breakout. 21730 and 21540 are important levels for the next session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21930 and 22130.
For selling we need a 15 Min candle close below 21540. T- 21345 and 21095.
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 21730
Invalid-Below 21680
T- 21930 22125
Bearish-Below 21540
Invalid-Above 21590
T- 21345 21095
NIFTY has closed on a bearish note last week with 1.47% cut last week. It has engulfed last two weeks gain entirely, also an sustained exhaustion gap day was observed on 17 Jan 2024. This looks like a short term top @ 22124. No bullish trades (swings) till it is lower than 22124. We will focus more on selling opportunity. Important hourly swings are placed @ 22150 and 21280. A good momentum will pick on this range breakout. 21730 and 21540 are important levels for the next session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21930 and 22130.
For selling we need a 15 Min candle close below 21540. T- 21345 and 21095.
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.
