NIFTY Intraday Trade Setup For 9 Jul 2024
Bullish-Above 24350
Invalid-Below 24300
T- 24550
Bearish-Below 24230
Invalid-Above 24280
T- 24030
NIFTY has closed on a flat note today, complete rangebound session within 100 points range. It has formed a Pinbar candle in daily TF. Above today's high there can be a good upside move towards 24550 as per 1.618 extension plotted. Since the daily candle is a price rejection candle and represents bullishness, below its low 24230 there can panic selling move towards 24k zone. Sentiment is bullish till it closes above PDL.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 24350 then we will long for the target of 24550.
For selling we need a 15 Min candle close below 24230. T- 24030.
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.
No comments:
Post a Comment