Nifty 50 Intraday view and trade idea for 15th February 2021
Good Morning everyone,
Hope you guys have enjoyed your weekend and ready to start a new week. Last week we had seen a sideways market, The index has traded in the range. the range is high 15,250 and low is 15,000. There is very little room in upside because of harmonic PRZ. 15,400 to 15,500 the whole area is a supply zone and Index still has 200-300 points. Swing traders must be careful at this point for their position sizing.
Trade Setup
==============
Long
=======
India 50 is trading on a positive note around 60 Points up from the previous closing .so we can see a gap up opening today but you guys need to consider buying only above 15,260. Very little room on the upside as 13,400 to 13,500 is the resistance area followed up with Harmonic PRZ so be alert on Buy-side and buy only above 13,260. Above 13,2600 will give a confirmation to the breakout for the last week range and the index can test their resistance 13,400 to 13,500 in this week
Short
==========
Short only if Previous low break in the hourly time frame which is 15,080.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Hope you guys have enjoyed your weekend and ready to start a new week. Last week we had seen a sideways market, The index has traded in the range. the range is high 15,250 and low is 15,000. There is very little room in upside because of harmonic PRZ. 15,400 to 15,500 the whole area is a supply zone and Index still has 200-300 points. Swing traders must be careful at this point for their position sizing.
Trade Setup
==============
Long
=======
India 50 is trading on a positive note around 60 Points up from the previous closing .so we can see a gap up opening today but you guys need to consider buying only above 15,260. Very little room on the upside as 13,400 to 13,500 is the resistance area followed up with Harmonic PRZ so be alert on Buy-side and buy only above 13,260. Above 13,2600 will give a confirmation to the breakout for the last week range and the index can test their resistance 13,400 to 13,500 in this week
Short
==========
Short only if Previous low break in the hourly time frame which is 15,080.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Trade closed: target reached:
Open @15248 today and made a high is 15,312.
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Trade Setup
==============
Long
=======
India 50 is trading on a positive note around 60 Points up from the previous closing .so we can see a gap up opening today but you guys need to consider buying only above 15,260. Very little room on the upside as 15,400 to 15,500 is the resistance area followed up with Harmonic PRZ so be alert on Buy-side and buy only above 15,260. Above 15,2600 will give a confirmation to the breakout for the last week range and the index can test their resistance 15,400 to 15,500 in this week
Short
==========
Short only if Previous low break in the hourly time frame which is 15,080.