NIFTY Intraday Trade Setup For 27 Sep 2023
Bullish-Above 19735
Invalid-Below 19685
T- 19840 19920
Bearish-Below 19600
Invalid-Above 19650
T- 19510 19420
NIFTY has closed flat once again for the two consecutive days. In the weekend analysis it was discussed that index can create a base and probability of a pullback is high. Also it was discussed that it can turn sideways after a parabolic move. So is happening, it just traded between 60 points range for the whole day today. This sideways momentum is likely to continue for some more days after a complete parabolic (down)move. Nothing triggered as per trade setup. Tomorrow be alert with today's high and low for a direction however 19740 and 19600 is the broader range.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19735 then we will long for the target of 19840 and 19920.
For selling we need a 15 Min candle close below 19600. T- 19510 and 19420.
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.
Bullish-Above 19735
Invalid-Below 19685
T- 19840 19920
Bearish-Below 19600
Invalid-Above 19650
T- 19510 19420
NIFTY has closed flat once again for the two consecutive days. In the weekend analysis it was discussed that index can create a base and probability of a pullback is high. Also it was discussed that it can turn sideways after a parabolic move. So is happening, it just traded between 60 points range for the whole day today. This sideways momentum is likely to continue for some more days after a complete parabolic (down)move. Nothing triggered as per trade setup. Tomorrow be alert with today's high and low for a direction however 19740 and 19600 is the broader range.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19735 then we will long for the target of 19840 and 19920.
For selling we need a 15 Min candle close below 19600. T- 19510 and 19420.
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.
