NIFTY Intraday Trade Setup For 9 Jan 2025

NIFTY Intraday Trade Setup For 9 Jan 2025

Bullish- Above 23800
Invalid-Below 23750
T- 24055

Bearish-Below 23490
Invalid-Above 23540
T- 23250

NIFTY has closed on a flat note today. It gave a 2 way move in intraday. Sell trade did not go in favor, sl was hit. It has formed a Pinbar candle in daily TF. Above its high there can be a short covering move. However 23800 is key level in hourly TF. 23490 is rejection candle's low so below this there can be panic selling once again.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 23800 then we will long for the target of 24055.

For selling we need a 15 Min candle close below 23490. T- 23250.

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.