NIFTY Intraday Trade Setup For 26 Aug 2024
NIFTY Intraday Trade Setup For 26 Aug 2024
Bullish-Above 24870
Invalid-Below 24820
T- 25058
Bearish-Below 24770
Invalid-Above 24820
T- 24570
NIFTY has closed on a slight bullish note with over 1% gain last week. Index looks ready for a fresh ATH. Last week we discussed when NIFTY was @ 24540 that index is likely to fill the two gaps created in daily TF in the higher side. On Friday a Pin bar candle has been formed so above 24870 we will breakout of last two sessions and as per plotted ABCD, 25058 will be on cards. Below 24770 index may turn bearish in hourly TF and effect will be seen in coming days.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle close below 24870 then we will long for the target of 25058.
For selling we need a 15 Min candle close below 24770. T- 24580.
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 24870
Invalid-Below 24820
T- 25058
Bearish-Below 24770
Invalid-Above 24820
T- 24570
NIFTY has closed on a slight bullish note with over 1% gain last week. Index looks ready for a fresh ATH. Last week we discussed when NIFTY was @ 24540 that index is likely to fill the two gaps created in daily TF in the higher side. On Friday a Pin bar candle has been formed so above 24870 we will breakout of last two sessions and as per plotted ABCD, 25058 will be on cards. Below 24770 index may turn bearish in hourly TF and effect will be seen in coming days.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle close below 24870 then we will long for the target of 25058.
For selling we need a 15 Min candle close below 24770. T- 24580.
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.
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