Nifty 50 Intraday Trade Setup for 01st November 2021

Good Morning

I hope you guys had a great weekend
We were closed on Friday at 17,671, which was almost 1.04% negative from the previous trading session. The index looks weak here and can correct more in the upcoming days. FIIS profit booking is continuing, and this is the main reason for a current downfall. Over than 63,000 crores Cash out from the market, which is a considerable amount.

The main question is, what is our trade setup for today and in the upcoming days. Let's talk about the Important Levels.

Resistance 1 : 17,950
Key Resistance : 18,050 to 18,100
Key support : 17,650

Today Trade setup
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India usd and sgx nifty has recovered in the Friday trading session after our market and managed to close at 17,796, almost 100-120 points up from our market closing. A sign for an 80-100 points gaps up the opening. Market sentiment is negative,so you must be careful and prefer the range shift strategy (wait to break out for the first 30-45 Minutes range)

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