NIFTY Intraday Trade Setup For 16 Jan 2024
Bullish-Above 22120
Invalid- Below 22070
T- 22275 22460
Bearish-Below 22010
Above- 22060
T- 21875 21715
NIFTY has closed on a bullish note with almost 1% gain today. It opened
with a decent gap up today and as per trade setup 10 o'clock range was
to be used. Range broke upside above 22082 and gave a small move till
22115. In the weekend analysis it was said that index is ready to break
22k in flow which will be backed by It results and reliance. Tomorrow
once again bullishness may continue above today's high.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle
closes above 22120 then we will long for the target of 22275 and 22460.
For selling we need a 15 Min candle close below 22010. T- 21875 and 21715.
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
Tuesday, January 16, 2024
NIFTY LEVEL 16/1/2024
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