NIFTY Intraday Trade Setup For 8 Nov 2024

NIFTY Intraday Trade Setup For 8 Nov 2024

Sell_1- From 24400
Invalid- 24450
T- 24250

Sell_2- Below 24170
Invalid- Above 24220
T- 23945

NIFTY has closed closed on a bearish note with 1.16% cut today. Index was bearish since opening and later sell triggered below 24280 and gave 100 points. Index has entered into bearish sentiment once again. No bullish view till we get bullish price structure in daily TF. Tomorrow we will still maintain bearish stance, sell on rise approach. 24400 will be resistance for the day.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 24170 then we will short for the target of 23944.

We will short in case of pullback towards 24400 zone. T- 24240.

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.