NIFTY Intraday Trade Setup For 7 Nov 2024

NIFTY Intraday Trade Setup For 7 Nov 2024

Bullish-Above 24550
Invalid-Below 24500
T- 24800 25050

Bearish-Below 24280
Invalid-Above 24330
T- 24020

NIFTY has closed on a bold bullish note with 1.12% gain today. It has almost touched 23700 zone, made a low of 23816.15 on 4 Nov. So our swing sell target was met. It has closed above PDH so bearish sentiment is void now chance of a halt or bullish reversal is on cards. 24550 and 24280 are intra levels for tomorrow.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24550 then we will long for the target of 24800 and 25050.

For selling we need a 15 Min candle close below 24280. T- 24022.

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.