NIFTY Intraday Trade Setup For 28 Oct 2024

NIFTY Intraday Trade Setup For 28 Oct 2024

Bullish-Above 24280
Invalid-Below 24230
T- 24550

Bearish-Below 24070
Invalid-Above 24120
T- 23770

NIFTY has closed on a bearish note last week. We already discussed last week that index is approaching 23700 zone. It is in flow since then in the downside. Also keep on riding with PDH as trailing SL. If a daily candle closes above PDH then we will exit our shorts and wait for fresh trade setup positionally. 24280 and 24070 are intra levels for next session.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24280 post pullback then we will long for the target of 24550.

For selling we need a 15 Min candle close below 24070. T- 23770.

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.