Nifty Intraday levels for 4th Oct 2023

Hello Traders.

Nifty traded in lower range throughout the day and closed around 19528, good thing is nifty above 19500. If you Check Nifty has not closed below 19500 in last 20 sessions. Means it is simple buyers are accumulating in the range of 19475-19500. Any closing below 19500 will take nifty towards 19200 for sure. NIfty is safe above 19500. In case we get nifty tomorrow around 19400-19430, then we should become contrarian as that will be good support zone for intraday, and we can keep stop loss at 19275 and targets 19650+. Let's see if we get these levels or not.

Important Levels for Nifty:-

Strong Support zone 19400
Strong Resistance zone 19650-19750

Buy above 19558, if levels sustains at least for 30 mints.
Targets we can see in upside 19640/19698
Keep stop loss at 19486

Sale below 19486, if levels sustains at least for 30 mints.
Only Small Targets we can see in downside 19427 (as nifty will be in support zone)
Keep stop loss at 19558

Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Comment:

Global Data is very very negative, All major indices are showing huge negativity in market.
Gift Nifty also suggesting huge gap down. Let's see what is going to happen.
if market respect the levels then go with less qty.
Thankyou