NIFTY Intraday Trade Setup For 08 Jan 2023
Bullish-Above 21750
Invalid-Below 21700
T- 21870 22015
Bearish-Below 21620
Invalid-Above 21670
T- 21477 21290
NIFTY has closed on a flat note last week. It has taken a pause/rest in the leg of 22463-22500. As per ABCD pattern in weekly TF 22400-500 is PRZ. Above 21850 the next round of up move will be triggered again. Since it has started to consolidate below 21850 if 21620 is broken then we will test 21280-300 zone which will be confirmed after 21500 is broken. We will plan a long trade from 21280-300 zone. Between 21850 and 21500 it will be more or less sideways. 21750 and 21620 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21750 then we will long for the target of 21870 and 22015.
For selling we need a 15 Min candle close below 21620. T- 21477 and 21290.
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 21750
Invalid-Below 21700
T- 21870 22015
Bearish-Below 21620
Invalid-Above 21670
T- 21477 21290
NIFTY has closed on a flat note last week. It has taken a pause/rest in the leg of 22463-22500. As per ABCD pattern in weekly TF 22400-500 is PRZ. Above 21850 the next round of up move will be triggered again. Since it has started to consolidate below 21850 if 21620 is broken then we will test 21280-300 zone which will be confirmed after 21500 is broken. We will plan a long trade from 21280-300 zone. Between 21850 and 21500 it will be more or less sideways. 21750 and 21620 are important levels for Monday's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21750 then we will long for the target of 21870 and 22015.
For selling we need a 15 Min candle close below 21620. T- 21477 and 21290.
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.
