NIFTY Intraday Trade Setup For 30 May 2024
Bullish-Above 22810
Invalid-Below 22760
T- 23000
Bearish-Below 22680
Invalid-Above 22730
T- 22480
NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be used. Range broke downside below 22760 and gave 50 points move which was 1:1. Tomorrow if there is another gap down then I will watch for the 1st 5 Min candle's breakout either side.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22810 then we will long for the target of 23000.
For selling we need a 15 Min candle close below 22680. T- 22485.
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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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 22810
Invalid-Below 22760
T- 23000
Bearish-Below 22680
Invalid-Above 22730
T- 22480
NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be used. Range broke downside below 22760 and gave 50 points move which was 1:1. Tomorrow if there is another gap down then I will watch for the 1st 5 Min candle's breakout either side.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22810 then we will long for the target of 23000.
For selling we need a 15 Min candle close below 22680. T- 22485.
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.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
