NIFTY Intraday Trade Setup For 1 Apr 2024

NIFTY Intraday Trade Setup For 1 Apr 2024

Bullish-Above 22530
Invalid-Below 22480
T- 22780

Bearish-Below 22250
Invalid- Above 22300
T- 22045

NIFTY has closed on a bullish note last week with 1% gain. It was a short week of 3 sessions but since start of the week bulls took charge and held till weekend. Now above 22530-50 we will witness another round of strong bullish move in daily TF. On Thursday itself we discussed about hourly TF breakout above 22215 and it gave a fantastic move. Also since it has been rejected from ATH zone so there is a pullback scenario below 22250 towards 22045, which is again a reversal level.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22780.

For selling we need a 15 Min candle close below 22250. T- 22045.

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.