NIFTY Intraday Trade Setup For 30 Aug 2024
NIFTY Intraday Trade Setup For 30 Aug 2024
Bullish-Above 25200
Invalid-Below 25150
T- 25390
Bearish-Below 24950
Invalid-Above 25000
T- 24770
NIFTY has closed on a bullish note with 0.4% gain today. It was a full volatile session especially post 1 PM. Since last many days it was comfort for option sellers, today it backfired. For me index is still sideways to bullish so follow the same approach till PDL is safe in closing basis. If daily candle closes below PLD then sentiment will turn bearish and sell on rise approach will be suited after a bearish reversal structure.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 25200 then we will long for the target of 25390.
For selling we need a 15 Min candle close below 24950. T- 24770.
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 25200
Invalid-Below 25150
T- 25390
Bearish-Below 24950
Invalid-Above 25000
T- 24770
NIFTY has closed on a bullish note with 0.4% gain today. It was a full volatile session especially post 1 PM. Since last many days it was comfort for option sellers, today it backfired. For me index is still sideways to bullish so follow the same approach till PDL is safe in closing basis. If daily candle closes below PLD then sentiment will turn bearish and sell on rise approach will be suited after a bearish reversal structure.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 25200 then we will long for the target of 25390.
For selling we need a 15 Min candle close below 24950. T- 24770.
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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