NIFTY Intraday Trade Setup For 04 Dec 2023
Bullish-Above 20300
Invalid-Below 20250
T- 20420 20531
Bearish-Below 20200
Invalid-Below 20250
T- 20088 19970
NIFTY has closed on a bold bullish note last week with 2.39% gain. We planned our buy trade above 19880 on daily swing breakout for a fresh ATH. A fresh ATH is done with a very good momentum and now we will just trail sl to PDL on closing basis. If a daily candle closes below PDL and then below that red candle's low we will exit longs completely. Monthly candle is also bold bullish. No reversal planning till we get a bearish price structure in hourly and daily TF. 20300 and 20200 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 20300 then we will long for the target of 20420 and 20531.
For selling we need a 15 Min candle close below 20200. T- 20088 and 19970.
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 20300
Invalid-Below 20250
T- 20420 20531
Bearish-Below 20200
Invalid-Below 20250
T- 20088 19970
NIFTY has closed on a bold bullish note last week with 2.39% gain. We planned our buy trade above 19880 on daily swing breakout for a fresh ATH. A fresh ATH is done with a very good momentum and now we will just trail sl to PDL on closing basis. If a daily candle closes below PDL and then below that red candle's low we will exit longs completely. Monthly candle is also bold bullish. No reversal planning till we get a bearish price structure in hourly and daily TF. 20300 and 20200 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 20300 then we will long for the target of 20420 and 20531.
For selling we need a 15 Min candle close below 20200. T- 20088 and 19970.
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.
