NIFTY Intraday Trade Setup For 04 Oct 2023 | Daily Analysis

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 04 Oct 2023

Bullish-Above 19570
Invalid-Below 19520
T- 19675 19770

Bearish-Below 19470
Invalid-Above 19520
T- 19385 19290

NIFTY has closed on a bearish note with 0.56% cut today. It opened flat and sell triggered as per trade setup but the 1st one Min candle itself was very big which made our short trade RR unfavourable. After the 1st 15 Min candle overall it just consolidated. 10 o'clock range was also intact. Tomorrow below day today's day low there can be a good down move, best suitable after flat opening. For buying it need to sustain above 19570 also we will consider in the 2nd attempt breakout.

Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 19570 then we will long for the target of 19675 and 19770.

For selling we need a 15 min candle close below 19475. T- 19385 and 19290.

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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