NIFTY Intraday Trade Setup For 15 Jan 2024
Bullish-Above 21930
Invalid-Below 21880
T- 22070 22195
Bearish-Below 21800
Invalid-Below 21850
T- 21642 21508
NIFTY has closed on a slight positive note with 0.85% gain last week.
Index looks ready to break 22k mark with 3rd quarter results. Index will
face a major resistance near 22500 as per ABCD PRZ (2.618) in weekly
TF. No Point in looking for short (swing) till 22500. On Friday index
broke 10 days contraction pattern (parallel channel) which held index in
a tight range. Also we need to observe the daily price action for
riding the trend till the fullest, till the time index is in bullish
price structure. 21930 and 21800 are important levels for Monday's
session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle
closes above 21930 then we will long for the target of 22070 and 22195.
For selling we need a 15 Min candle close below 21800. T- 21642 and 21508.
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.
Monday, January 15, 2024
NIFTY LEVEL 15/1/2024
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