NIFTY Intraday Trade Setup For 5 Sep 2023
Bullish-Above 19550
Invalid-Below 19500
T- 19645 19740
Bearish-Below 19490
Invalid-Above 19540
T- 19397 19305
NIFTY has closed on a bullish note with 0.48% gain today. It has regained 19500(CB) after 30 days which is a bullish indication. Tomorrow's closing above 19600 would confirm that. Today it opened with a big gap up and 10 o'clock range was to be used as per analysis. Range broke downside below 19464 and gave 30 points gain which was 1:1. Later buy triggered as per trade setup above 19460 and hit 1st target smoothly (19460-19545).
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 19550 then we will long for the target of 19645 and 19740.
For selling we need a 15 min candle close below 19490. T- 19397 and 19305.
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 19550
Invalid-Below 19500
T- 19645 19740
Bearish-Below 19490
Invalid-Above 19540
T- 19397 19305
NIFTY has closed on a bullish note with 0.48% gain today. It has regained 19500(CB) after 30 days which is a bullish indication. Tomorrow's closing above 19600 would confirm that. Today it opened with a big gap up and 10 o'clock range was to be used as per analysis. Range broke downside below 19464 and gave 30 points gain which was 1:1. Later buy triggered as per trade setup above 19460 and hit 1st target smoothly (19460-19545).
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 19550 then we will long for the target of 19645 and 19740.
For selling we need a 15 min candle close below 19490. T- 19397 and 19305.
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.
