NIFTY Intraday Trade Setup For 5 Apr 2024
Bullish-Above 22620
Invalid- Below 22570
T- 22830 23030
Bearish-Below 22300
Invalid-Above 22350
T- 22090
NIFTY has closed with a 0.36% gain today. It was most volatile day after many days, maybe due to RBI event tomorrow. It opened with a big gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 22380 and gave 70+ points move in favor then it recovered 70% from where it fell. Tomorrow it will be both way moves once again die to RBI Credit Policy. So Personally I will avoid trading tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030.
For selling we need a 15 Min candle close below 22300. T- 22090.
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.
Bullish-Above 22620
Invalid- Below 22570
T- 22830 23030
Bearish-Below 22300
Invalid-Above 22350
T- 22090
NIFTY has closed with a 0.36% gain today. It was most volatile day after many days, maybe due to RBI event tomorrow. It opened with a big gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 22380 and gave 70+ points move in favor then it recovered 70% from where it fell. Tomorrow it will be both way moves once again die to RBI Credit Policy. So Personally I will avoid trading tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030.
For selling we need a 15 Min candle close below 22300. T- 22090.
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.
==========
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.
