NIFTY Intraday Trade Setup For 06 Oct 2023 | Daily Analysis
NIFTY Intraday Trade Setup For 06 Oct 2023
Bullish-Above 19580
Invalid-Below 19530
T- 19685 19800
Bearish-Below 19515
Invalid-Above 19565
T- 19427 19335
NIFTY has closed on a positive note with 0.56% gain today although it is contributed by gap up. It opened with a big gap up and just went in range of 90 points for the whole day. As per trade setup 10 o'clock range was to be used and the range broke downside below 19508 which hit a sl of 25 points. Then range broke upside ended at cost. Tomorrow 19580 and 19515 are important levels to look for breakout in 15 Min TF. 19427 is going to be a gap support tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 19580 then we will long for the target of 19685 and 19800.
For selling we need a 15 Min candle close below 19515. T- 19427 and 19335.
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 19580
Invalid-Below 19530
T- 19685 19800
Bearish-Below 19515
Invalid-Above 19565
T- 19427 19335
NIFTY has closed on a positive note with 0.56% gain today although it is contributed by gap up. It opened with a big gap up and just went in range of 90 points for the whole day. As per trade setup 10 o'clock range was to be used and the range broke downside below 19508 which hit a sl of 25 points. Then range broke upside ended at cost. Tomorrow 19580 and 19515 are important levels to look for breakout in 15 Min TF. 19427 is going to be a gap support tomorrow.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 19580 then we will long for the target of 19685 and 19800.
For selling we need a 15 Min candle close below 19515. T- 19427 and 19335.
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.
