NIFTY Intraday Trade Setup For 03 Jan 2023
Bullish-Above 21700
Invalid-Below 21650
T- 21855 21980
Bearish-Below 21550
Invalid-Above 21600
T- 21435 21298
NIFTY has closed on a slight bearish note with 0.35% cut today. It will start to make a bearish price structure below 21550 in hourly TF. Below 21550 there can be good selling in the coming days. There has been sharp selling from 21830 till 21555 ,21700 is an intraday level to be watched for a bullish move as that's 50 % if the fall. This will take NIFTY towards ATH. Important intraday resistance is 21855. Major intraday support lies near 21275 or 21300 zone.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21700 then we will long for the target of 21855 and 21980.
For selling we need a 15 Min candle close below 21550. T- 21415 and 21275.
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 21700
Invalid-Below 21650
T- 21855 21980
Bearish-Below 21550
Invalid-Above 21600
T- 21435 21298
NIFTY has closed on a slight bearish note with 0.35% cut today. It will start to make a bearish price structure below 21550 in hourly TF. Below 21550 there can be good selling in the coming days. There has been sharp selling from 21830 till 21555 ,21700 is an intraday level to be watched for a bullish move as that's 50 % if the fall. This will take NIFTY towards ATH. Important intraday resistance is 21855. Major intraday support lies near 21275 or 21300 zone.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21700 then we will long for the target of 21855 and 21980.
For selling we need a 15 Min candle close below 21550. T- 21415 and 21275.
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.
