NIFTY Intraday Trade Setup For 31 Jul 2024
Bullish-Above 25000
Invalid-Below 24950
T- 25250
Bearish-below 24770
Invalid-Above 24820
T- 24535
NIFTY has closed once again on an absolute flat note today. Nothing triggered as per trade setup so there is nothing new to discuss, setup is same like yesterday. BTW it has formed a shooting star candle in daily TF also being an inside candle. Below 24770 there can be good selling pressure. Above 25k there is a fair chance of a strong bullish momentum. Inside this range we will maintain a non directional approach.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 25k then we will long for the target of 25250.
For selling we need a 15 Min candle close below 24770. T- 24535.
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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