Nifty Trading Strategy for 02nd December 2024
Nifty Trading Strategy
"When the gap between S3 and R3 is narrow, the market tends to show a strong trend, either upward or downward."
Buy Signal:
Initiate a buy position above the high of the 15-minute candle that closes above 24225.
This indicates a potential upward trend and a good entry point for long positions.
Sell Signal:
Initiate a sell position below the low of the 15-minute candle that closes below 24060.
This indicates a potential downward trend and a good entry point for short positions.
Support Levels:
23897: This is a crucial support level. If the price falls to this level, it might experience a rebound.
23440: Another significant support level where the price might find strong buying interest.
Resistance Level:
24300: This is a crucial resistance level. If the price approaches this level, it might face selling pressure.
Disclaimer: Trading in financial markets involves a significant amount of risk and can result in substantial losses. The information provided is for educational purposes only and should not be considered as financial advice. Past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any trading decisions. Additionally, please note that I am not SEBI registered.
"When the gap between S3 and R3 is narrow, the market tends to show a strong trend, either upward or downward."
Buy Signal:
Initiate a buy position above the high of the 15-minute candle that closes above 24225.
This indicates a potential upward trend and a good entry point for long positions.
Sell Signal:
Initiate a sell position below the low of the 15-minute candle that closes below 24060.
This indicates a potential downward trend and a good entry point for short positions.
Support Levels:
23897: This is a crucial support level. If the price falls to this level, it might experience a rebound.
23440: Another significant support level where the price might find strong buying interest.
Resistance Level:
24300: This is a crucial resistance level. If the price approaches this level, it might face selling pressure.
Disclaimer: Trading in financial markets involves a significant amount of risk and can result in substantial losses. The information provided is for educational purposes only and should not be considered as financial advice. Past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any trading decisions. Additionally, please note that I am not SEBI registered.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.