NIFTY Intraday Trade Setup For 21 Feb 2024

NIFTY Intraday Trade Setup For 21 Feb 2024

Bullish-Above 22220
Invalid-Below 22170
T- 22415 22580

Bearish-Below 22040
Invalid-Above 22090
T- 21860 21650

NIFTY has closed on a bullish note with 0.34% gain today. As per trade setup it tested the buy level but almost at closing bell. It has closed at breakout level near 22200 tomorrow it should give a good momentum in the upside in flow above 22210. 22415 can be immediate target after the breakout and will book max there and from there we need to look for a bearish reversal price structure in 5 Min TF for TSL. Index is following this channel in daily TF. https://www.tradingview.com/x/EJMkargh/

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22220 then we will long for the target of 22415 and 22580.

For selling we need a 15 Min candle close below 22040. T- 21860 and 21650.

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.