NIFTY Intraday Trade Setup For 8 Feb 2023
Buy-Above 17780
Sl-17730
T-17870 17975
Sell-Below 17650
Sl-17700
T-17545 17445
NIFTY has closed a slight bearish sentiment with 0.24% cut today. NIFTY is still inside the Budget Day's range. Tomorrow is RBI Monetary Policy at 10 AM. Safe traders should trade after the announcement as there will be volatility till 10:30. Today it opened almost flat and tested buy level but was not triggered. Later sell triggered and gave more than 40 points which was roughly 1:1. However 10 o'clock was already broken before sell level was triggered and that gave more than 75 points.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17780 then we will long for the target of 17870 and 17975+
For selling we need a 15 Min candle close below 17650. T- 17545 and 17445.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 17780
Sl-17730
T-17870 17975
Sell-Below 17650
Sl-17700
T-17545 17445
NIFTY has closed a slight bearish sentiment with 0.24% cut today. NIFTY is still inside the Budget Day's range. Tomorrow is RBI Monetary Policy at 10 AM. Safe traders should trade after the announcement as there will be volatility till 10:30. Today it opened almost flat and tested buy level but was not triggered. Later sell triggered and gave more than 40 points which was roughly 1:1. However 10 o'clock was already broken before sell level was triggered and that gave more than 75 points.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17780 then we will long for the target of 17870 and 17975+
For selling we need a 15 Min candle close below 17650. T- 17545 and 17445.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
