Bullish-Above 24390
Invalid-Below 24340
T- 24650
Bearish-Below 23890
Invalid-Above 23940
T- 23515
NIFTY has closed on a bearish note with 0.74% cut. Since last 4 sessions we are stuck inside 500 points range- 24400 and 23900. We will trade directional only when we get this range breakout. It was sideways with huge volatility, mostly sl hunting moves. We will be neutral and wait patiently for breakout. However above 24450 there can trigger for short covering.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24650.
For selling we need a 15 Min candle close below 23890. T- 23515.
For selling we need a 15 Min candle close below 23890. T- 23515.
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.
Nifty may remain a bit range bound tomorrow too and if it goes above 24120 and crosses 24249 level with volume then it may show up to 24325 and if 24050 breaks below it will go up to 24963 and if it breaks with volume then 24889. 24803 may be visible because today RBI intervention has not changed the repo rate and the inflation may increase from above. Because of this and the second thing is that he said that the growth of domestic prices will be 4%, in which the food and drink items will not be calculated any day and no statistics have been used in that, but he said that even in that, if he brings down that figure, he will. Due to the fact that the market has become happy due to the talk of the impossible becoming possible, there is no buying in the market and the problem can also increase due to geo-political tension. This is according to our opinion
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