NIFTY Intraday Trade Setup For 27 Mar 2024

NIFTY Intraday Trade Setup For 27 Mar 2024

Bullish-Above 22080
Invalid-Below 22030
T- 22250

Bearish-Below 21940
Invalid-Above 21990
T- 21800 21630

NIFTY has closed on a bearish note with 0.42% cut today. While all this cut was entirely contributed by gap down opening. In intraday it traded in 80 points range, for the max time it froze between 50 points. Since 2nd week of Feb index has been hovering near 22000 zone. I am waiting for 21700 to be broken downside for a trendy move or else it is sideways and position sizing must be reduced till the time index is trading between this channel in daily TF.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22080 then we will long for the target of 22250.

For selling we need a 15 Min candle close below 21940. T- 21800 and 21630.

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.
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