Bullish-Above 24600
Invalid-Below 24550
T- 24780
Bearish-Below 24450
Invalid-Above 24500
T- 24275
NIFTY has closed on a slight bullish note with 0.73% gain last week. On 10 Jul it closed below PDL so as per the method we were following to ride the bullish move is now invalid. But now lets come to the 2nd validation point. Now if at all there is a bearish price action in daily TF then we will call it bearish and a confirmed reversal. Also this reversal confirmation will be updated through these trade setups. 24600 and 24450 are levels to watch out for tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24600 then we will long for the target of 24780.
For selling we need a 15 Min candle close below 24450. T- 24275.
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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