NIFTY Intraday Trade Setup For 12 Dec 2023
NIFTY Intraday Trade Setup For 12 Dec 2023
Bullish-Above 21030
Invalid- Below 20980
T- 21160 21300
Bearish-Below 20950
Invalid-Above 21000
T- 20810 20675
NFTY has closed almost on a flat note with slight gain of 0.13%. Buy triggered as per trade setup which ended at cost EOD. Our TSL in swing long (from 19880) is still intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. Also in case of TSL there will be sentimental reversal from bullish to bearish. There is a rising wedge pattern type formation in hourly TF but above today's high there can be a sharp rally once again. Below 20950 there can be bearish action in Intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21030 then we will long for the target of 21160 21300.
For selling we need a 15 Min candle close below 20950. T- 20810 and 20675.
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 21030
Invalid- Below 20980
T- 21160 21300
Bearish-Below 20950
Invalid-Above 21000
T- 20810 20675
NFTY has closed almost on a flat note with slight gain of 0.13%. Buy triggered as per trade setup which ended at cost EOD. Our TSL in swing long (from 19880) is still intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs completely. Also in case of TSL there will be sentimental reversal from bullish to bearish. There is a rising wedge pattern type formation in hourly TF but above today's high there can be a sharp rally once again. Below 20950 there can be bearish action in Intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21030 then we will long for the target of 21160 21300.
For selling we need a 15 Min candle close below 20950. T- 20810 and 20675.
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.
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