NIFTY Intraday Trade Setup For 01 Jan 2023
Bullish-Above 21810
Invalid-Below 21760
T- 21940 22070
Bearish-Below 21670
Invalid-Above 21710
T- 21570 21435
NIFTY has closed on a bullish note last week with 1.79% gain. Index is approaching 22k mark as discussed in the last week. Possibility of a major top seems near 22500 zone. However 22070-22100 can also trigger profit booking being a round level zone. No plan of sell till the bullish price structure is intact in daily TF. Since last 2 sessions it index has formed a range 21810 and 21670 are the level for range shift. We will plan directional trades on this range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 21810 then we will long for the target of 21940 and 22070.
For selling we need a 15 Min candle close below 21670. T- 21570 and 21435.
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.
Happy New Year In Advance
Bullish-Above 21810
Invalid-Below 21760
T- 21940 22070
Bearish-Below 21670
Invalid-Above 21710
T- 21570 21435
NIFTY has closed on a bullish note last week with 1.79% gain. Index is approaching 22k mark as discussed in the last week. Possibility of a major top seems near 22500 zone. However 22070-22100 can also trigger profit booking being a round level zone. No plan of sell till the bullish price structure is intact in daily TF. Since last 2 sessions it index has formed a range 21810 and 21670 are the level for range shift. We will plan directional trades on this range breakout.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 21810 then we will long for the target of 21940 and 22070.
For selling we need a 15 Min candle close below 21670. T- 21570 and 21435.
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.
Happy New Year In Advance
