NIFTY Intraday Trade Setup For 02 Feb 2022
Buy-Above 17625
Sl-17575
T-17757 17855
Sell-Below 17500
Sl-17550
T-17400 17250
NIFTY has formed a strong bullish candle in the daily TF. NIFTY was strong in the morning session. Our 1st target was 17600. It was tested and market fell sharply from there in the 2nd trading session. We planned for the budget range breakout trade. Range was formed of 170 points. The lower range was broken after budget was presented. It fell more than 200 points after range breakdown.
However bulls came near 17250 levels and and V shape recovery was seen. Bulls closed near day high. Kind of inverse head & shoulder is formed.
Market looks strong and this bullishness will continue above budget day's high-17225. 17770-17800 will be our target.
Selling can be avoided. However we will plane our sell below 17500 for 17400 and 17300.
Best trade is in buy side.
Buy-Above 17625
Sl-17575
T-17757 17855
Sell-Below 17500
Sl-17550
T-17400 17250
NIFTY has formed a strong bullish candle in the daily TF. NIFTY was strong in the morning session. Our 1st target was 17600. It was tested and market fell sharply from there in the 2nd trading session. We planned for the budget range breakout trade. Range was formed of 170 points. The lower range was broken after budget was presented. It fell more than 200 points after range breakdown.
However bulls came near 17250 levels and and V shape recovery was seen. Bulls closed near day high. Kind of inverse head & shoulder is formed.
Market looks strong and this bullishness will continue above budget day's high-17225. 17770-17800 will be our target.
Selling can be avoided. However we will plane our sell below 17500 for 17400 and 17300.
Best trade is in buy side.
