NIFTY Intraday Trade Setup For 03 Aug 2023
Bullish-Above 19560
Invalid-Below 19510
T- 19681 19775
Bearish-Below 19420
Invalid-Above 19470
T- 19300 19187
NIFTY has closed on a bearish note with more than 1% cut today. It opened with a big gap down today below our sell level. As per trade trade setup 10 o'clock range was to be used as per our setup. 10 o'clock range broke downside below 19615 and risk was 25 points as the last swing low was 19639. It gave a trendy move till 19425. No pullbacks were in between. In the weekend we discussed that index is likely to give a pullback in daily TF. It has been activated below 19560 today.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 19560 then we will long for the target of 19681 and 19775.
For selling we need a 15 Min candle close below 19420. T- 19300 and 19187.
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.
Bullish-Above 19560
Invalid-Below 19510
T- 19681 19775
Bearish-Below 19420
Invalid-Above 19470
T- 19300 19187
NIFTY has closed on a bearish note with more than 1% cut today. It opened with a big gap down today below our sell level. As per trade trade setup 10 o'clock range was to be used as per our setup. 10 o'clock range broke downside below 19615 and risk was 25 points as the last swing low was 19639. It gave a trendy move till 19425. No pullbacks were in between. In the weekend we discussed that index is likely to give a pullback in daily TF. It has been activated below 19560 today.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 19560 then we will long for the target of 19681 and 19775.
For selling we need a 15 Min candle close below 19420. T- 19300 and 19187.
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.
