NIFTY Intraday Trade Setup For 9 Dec 2024

NIFTY Intraday Trade Setup For 9 Dec 2024

Bullish-Above 24860
Invalid-Below 24810
T- 25150

Bearish-Below 24490
Invalid-Above 24540
T- 24250

NIFTY has closed on a bullish note with 2.27% gain last week. It has changed price structure to bullish above 24400. Now it is likely to be a buy on dip market till it trades above 50 EMA in daily TF. Next hourly resistance is placed near 25250 above that post rejection it may hit ATH again. 24860 and 24490 is the range to wait for breakout for a directional move.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24860 then we will long for the target of 25150.

For selling we need a 15 Min candle close below 24490. T- 24250.

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.