NIFTY Intraday Trade Setup For 01 Dec 2023

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 01 Dec 2023

Bullish-Above 20160
Invalid-Below 20110
T- 20270 30376

Bearish-Below 20040
Invalid-Below 20090
T- 19941 19840

NIFTY has closed on a bullish note with 0.18% gain today. It opened flat today and buy triggered as per trade setup which hit 50 points sl. Later buy triggered again and gave a compensation move of 50 points. Our swing position is going well which we planned above 19880 in the weekend (19880-20158). Tomorrow it may hit a fresh ATH above 20160. For selling we need a bearish price structure below 20070 however our short level will be 20040 on 15 Min.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 20160 then we will long for the target of 20270 and 20376.

For selling we need a 15 Min candle close below 20040. T- 19941 and 19840.

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.


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