NIFTY Intraday Trade Setup 3 Feb 2023
Buy-Above 17680
Sl-17630
T- 17825 18000
Sell- Below 17490
Sl-17540
T- 17355 17165
NIFTY has closed on a complete absolute flat note today. Yesterday it was clearly told that I will avoid trading today. As it was very obvious that it was likely to trade in a sideways note. As IV spiked yesterday and its cool off was expected. Whenever this situation comes into scenario trend becomes dead or a dead momentum will be seen. So has happened today. And this is likely to happen tomorrow also. Index has formed a range in 15 Min and this range shift will give any direction.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 17680 then we will long for the target of 17825 and 17970-18k
For selling we need a 15 Min candle close below 17490. T- 17355. Below 17350 it will test 17165.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 17680
Sl-17630
T- 17825 18000
Sell- Below 17490
Sl-17540
T- 17355 17165
NIFTY has closed on a complete absolute flat note today. Yesterday it was clearly told that I will avoid trading today. As it was very obvious that it was likely to trade in a sideways note. As IV spiked yesterday and its cool off was expected. Whenever this situation comes into scenario trend becomes dead or a dead momentum will be seen. So has happened today. And this is likely to happen tomorrow also. Index has formed a range in 15 Min and this range shift will give any direction.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 17680 then we will long for the target of 17825 and 17970-18k
For selling we need a 15 Min candle close below 17490. T- 17355. Below 17350 it will test 17165.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
