NIFTY Intraday Trade Setup For 20 Dec 2023
Bullish-Above 21510
Invalid-Below 21460
T- 21625 21750
Bearish-Below 21380
Invalid-Above 21430
T- 21230 21100
NIFTY has closed on a slight bullish note with 0.16% gain today. Se triggered as per trade setup but was parabolic also it formed a morning star structure just at breakout and reversed which hit sl in short. It has formed a Pinbar candle in daily TF so above 21510 then can be a strong up move towards 21700 zone. If it all this is a short term resistance then it should start to make bearish price structure in 5/15 Min TF. 21510 and 21380 are important levels for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21510 then we will long for the target of 21625 and 21750.
For selling we need a 15 Min candle close below 21380. T- 21230 and 21100.
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 21510
Invalid-Below 21460
T- 21625 21750
Bearish-Below 21380
Invalid-Above 21430
T- 21230 21100
NIFTY has closed on a slight bullish note with 0.16% gain today. Se triggered as per trade setup but was parabolic also it formed a morning star structure just at breakout and reversed which hit sl in short. It has formed a Pinbar candle in daily TF so above 21510 then can be a strong up move towards 21700 zone. If it all this is a short term resistance then it should start to make bearish price structure in 5/15 Min TF. 21510 and 21380 are important levels for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21510 then we will long for the target of 21625 and 21750.
For selling we need a 15 Min candle close below 21380. T- 21230 and 21100.
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.
