NIFTY Intraday Trade Setup For 05 Dec 2023
Bullish-Above 20710
Invalid-Below 20660
T- 20862 21020
Bearish-Below 20580
Invalid-Above 20630
T- 20419 20258
NIFTY has closed on a bold bullish note with 2% gain today. Our swing long position just blasted today. We planned a bullish swing trade above 19880 on 27 Nov which was triggered on 28 Nov. It has given more than 800 points gain till now. In the weekend it was said to book some and rest you can trail till hourly bullish price structure is intact. Tomorrow there is a chance of a pullback move. Below 20580 if bearish price structure is established then it can test 20500 zone which can act as strong intraday support.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 20710 then we will long for the target of 20862 and 21020.
For selling we need a 15 Min candle close below 20580. T- 20419 and 20258.
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 20710
Invalid-Below 20660
T- 20862 21020
Bearish-Below 20580
Invalid-Above 20630
T- 20419 20258
NIFTY has closed on a bold bullish note with 2% gain today. Our swing long position just blasted today. We planned a bullish swing trade above 19880 on 27 Nov which was triggered on 28 Nov. It has given more than 800 points gain till now. In the weekend it was said to book some and rest you can trail till hourly bullish price structure is intact. Tomorrow there is a chance of a pullback move. Below 20580 if bearish price structure is established then it can test 20500 zone which can act as strong intraday support.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 20710 then we will long for the target of 20862 and 21020.
For selling we need a 15 Min candle close below 20580. T- 20419 and 20258.
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.
