NIFTY Intraday Trade Setup For 11 Sep 2023
Bullish-Above 19870
Invalid-Below 19820
T- 19953 20037
Bearish-Below 19790
Invalid-Above 19840
T- 19710 19617
NIFTY has closed on a bullish note last week and day with 1.98% and 0.47% gain respectively. On 4th Sep EOD we discussed about bullish indication when index closed above 19500 in daily TF. Also said that next day closing (19600) on a bullish note will be a confirmation to the bullish view. And the idea worked perfectly where it gave 300+ points move and is approaching a fresh ATH. After that next possibility opens up and future scenarios will be discussed when target is hit. 19870 and 19790 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19870 then we will long for the target of 19953 and 20037.
For selling we need a 15 Min candle close below 19790. T- 19710 and 19617.
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 19870
Invalid-Below 19820
T- 19953 20037
Bearish-Below 19790
Invalid-Above 19840
T- 19710 19617
NIFTY has closed on a bullish note last week and day with 1.98% and 0.47% gain respectively. On 4th Sep EOD we discussed about bullish indication when index closed above 19500 in daily TF. Also said that next day closing (19600) on a bullish note will be a confirmation to the bullish view. And the idea worked perfectly where it gave 300+ points move and is approaching a fresh ATH. After that next possibility opens up and future scenarios will be discussed when target is hit. 19870 and 19790 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19870 then we will long for the target of 19953 and 20037.
For selling we need a 15 Min candle close below 19790. T- 19710 and 19617.
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.
