NIFTY Intraday Trade Setup For 1 Jul 2024
Bullish-Above 24180
Invalid-Below 24130
T- 24410
Bearish-Below 23980
Invalid-Above 24030
T- 23800
NIFTY has closed on a bullish note last week with over 2% gain. It was completely on bulls grip from the start of last week, except Friday. We will maintain bullish view till it closes above PDL. Sentiment will change when it closes below PDL and then is confirmed by bearish price action. In case of a pullback move, it can test 23640 which is 61% retracement of the upmove, less probable.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24180 then we will long for the target of 24410.
For selling we need a 15 Min candle close below 23980. T- 23800
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 24180
Invalid-Below 24130
T- 24410
Bearish-Below 23980
Invalid-Above 24030
T- 23800
NIFTY has closed on a bullish note last week with over 2% gain. It was completely on bulls grip from the start of last week, except Friday. We will maintain bullish view till it closes above PDL. Sentiment will change when it closes below PDL and then is confirmed by bearish price action. In case of a pullback move, it can test 23640 which is 61% retracement of the upmove, less probable.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24180 then we will long for the target of 24410.
For selling we need a 15 Min candle close below 23980. T- 23800
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.
