NIFTY Intraday Trade Setup For 19 Apr 2024
Sell_1- From 22250
Invalid-Above 22300
T- 22080
Sell_2- Below 21950
Invalid-Above 22000
T- 21750 21585
NIFTY has closed on a bearish note with 0.69% cut today. Last weekend analysis is going well as we discussed that index will be under bear's grip below 22500 as per the effective 2nd leg shooting star candle in weekly TF. It was said @21520 that there is a high possibility of NIFTY making a short term top. Since then it has been sell on rise market and same approach should be kept till index makes a bullish reversal structure in daily TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 21950 then we will long for the target of 21750 and 21585.
In case of gap up we will short from 22250. T- 22080.
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.
Sell_1- From 22250
Invalid-Above 22300
T- 22080
Sell_2- Below 21950
Invalid-Above 22000
T- 21750 21585
NIFTY has closed on a bearish note with 0.69% cut today. Last weekend analysis is going well as we discussed that index will be under bear's grip below 22500 as per the effective 2nd leg shooting star candle in weekly TF. It was said @21520 that there is a high possibility of NIFTY making a short term top. Since then it has been sell on rise market and same approach should be kept till index makes a bullish reversal structure in daily TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 21950 then we will long for the target of 21750 and 21585.
In case of gap up we will short from 22250. T- 22080.
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.