NIFTY Intraday Trade Setup For 1 Mar 2024

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 1 Mar 2024

Bullish-Above 22100
Invalid-Below 22050
T- 22305 22510

Bearish-Below 21850
Invalid-Above 21900
T- 21658 21429

NIFTY has closed on a slight bullish note with 0.14% gain today. It was a complete random day where it closed almost flat with some bullish bias. Moves were random with big spikes. Tomorrow 22090 can be a intraday resistance as per 0.618 and CIP. Above 22100 we will long for a fresh ATH. Technically we are in a sideways phase of market in daily TF and its implications are moves seen in today's intraday. 22100 and 21850 is the range to look a breakout.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22100 then we will long for the target of 22305 and 22510.

For selling we need a 15 Min candle close below 21850. T- 21658 and 21429.

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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