NIFTY Intraday Trade Setup For 1 May 2024
Bullish-Above 22790
Invalid-Below 22740
T- 23050
Bearish-Below 22550
Invalid-Above 22600
T- 22333
NIFTY has closed on a slight bearish note with 0.17% cut today. It has formed a shooting star exactly at ATH which seems to be an alert for bulls. Index will rally very strongly above 22800 as sellers shorted today will exit and fresh buyers like us will enter, double force move. But below today's low bears will take charge. If today's low will be safe then it may give bounce towards 22715.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22790 then we will long for the target of 23050.
For selling we need a 15 Min candle close below 22550. T- 22333.
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.
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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.
Bullish-Above 22790
Invalid-Below 22740
T- 23050
Bearish-Below 22550
Invalid-Above 22600
T- 22333
NIFTY has closed on a slight bearish note with 0.17% cut today. It has formed a shooting star exactly at ATH which seems to be an alert for bulls. Index will rally very strongly above 22800 as sellers shorted today will exit and fresh buyers like us will enter, double force move. But below today's low bears will take charge. If today's low will be safe then it may give bounce towards 22715.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22790 then we will long for the target of 23050.
For selling we need a 15 Min candle close below 22550. T- 22333.
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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NIFTY Intraday Trade Setup For 2 May 2024Markets are closed tomorrow
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