NIFTY Intraday Trade Setup For 07 Sep 2023
Bullish-Above 19640
Invalid-Below 19590
T- 19735 19820
Bearish-Below 19490
Invalid-Above 19540
T- 19398 19305
NIFTY once again closed on a slight positive note with 0.18% gain today. It was updated that NIFTY has closed above 19500 in daily TF after 1 month and called it slight bullish. It is inching higher like a tortoise BTW. While 19500 become again important for a reversal if closed in daily TF. Today buy triggered as per trade setup which hit sl and then sell triggered later it broke previous swing high and reversed. In the weekend analysis it was said that if index regains 19500 then moreover it will be a broader range trading inside 20k and 19200. Tomorrow above 19640 it may fill the gap. Bearish view only below 19490, however I will be looking for a reversal in 5 MIN TF for a short.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19640 then we will long for the target of 19735 and 19820.
For selling we need a 15 Min candle close below 19490. T- 19398 and 19305.
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.
Bullish-Above 19640
Invalid-Below 19590
T- 19735 19820
Bearish-Below 19490
Invalid-Above 19540
T- 19398 19305
NIFTY once again closed on a slight positive note with 0.18% gain today. It was updated that NIFTY has closed above 19500 in daily TF after 1 month and called it slight bullish. It is inching higher like a tortoise BTW. While 19500 become again important for a reversal if closed in daily TF. Today buy triggered as per trade setup which hit sl and then sell triggered later it broke previous swing high and reversed. In the weekend analysis it was said that if index regains 19500 then moreover it will be a broader range trading inside 20k and 19200. Tomorrow above 19640 it may fill the gap. Bearish view only below 19490, however I will be looking for a reversal in 5 MIN TF for a short.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19640 then we will long for the target of 19735 and 19820.
For selling we need a 15 Min candle close below 19490. T- 19398 and 19305.
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.
