NIFTY Intraday Trade Setup For 2 Apr 2024
Bullish-Above 22530
Invalid-Below 22480
T- 22780
Bearish-Below 22420
Invalid-Above 22470
T- 22200
NIFTY has closed on a bullish note with 0.61% gain today. Entire gain has been contributed by gap up as it opened with 0.57% gain. For the rest of the day index traded between 22530 and 22430, inside 100 points. It has formed a shooting star candle in daily TF although closed with gains but daily candle suggests weakness. Yesterday's buy level was 22530 and same will be for tomorrow. Below 22420 index will be bearish in intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22780.
For selling we need a 15 Min candle close below 22420. T- 22200.
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 22530
Invalid-Below 22480
T- 22780
Bearish-Below 22420
Invalid-Above 22470
T- 22200
NIFTY has closed on a bullish note with 0.61% gain today. Entire gain has been contributed by gap up as it opened with 0.57% gain. For the rest of the day index traded between 22530 and 22430, inside 100 points. It has formed a shooting star candle in daily TF although closed with gains but daily candle suggests weakness. Yesterday's buy level was 22530 and same will be for tomorrow. Below 22420 index will be bearish in intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22780.
For selling we need a 15 Min candle close below 22420. T- 22200.
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.
