NIFTY Intraday Trade Setup For 20 Dec 2024

NIFTY Intraday Trade Setup For 20 Dec 2024

Bullish-Above 24010
Invalid- Below 23960
T- 24220

Bearish-Below 23850
Invalid-Above 23900
T- 23650

NIFTY has closed on a bearish note with 1% cut today. It opened with a big gap down due to global cues and it sustained the gap down. 10 o'clock range was to be used but index traded between the same for the whole day. 24k was tested multiple times so if index sustains above 24k then chance of a gap filling can be there. Below 23850 plain vanilla trendy short can be planned.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24010 then we will long for the target of 24220.

For selling we need a 15 Min candle close below 23850. T- 23650.

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.