NIFTY Intraday Trade Setup For 18 Nov 2024

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NIFTY Intraday Trade Setup For 18 Nov 2024

Bullish-Above 23690
Invalid-Below 23640
T- 23910

Bearish-Below 23480
Invalid-Above 23530
T- 23213

NIFTY has closed on a bearish note with 2.55% cut last week. Last weekend we discussed that index will be gripped by bears below 24k. It gave a non-stop move till 23500. Now index may find support near 23150 zone as per half bat pattern (0.618).

Index has formed an inverted hammer candle in daily TF near channel lower in daily TF so above its high it can be validated or else it will be sell on rise.


Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23690 then we will long for the target of 23910.

For selling we need a 15 Min candle close below 23480. T- 23213.

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.