NIFTY Intraday Trade Setup For 5 Mar 2024

NIFTY Intraday Trade Setup For 5 Mar 2024

Bullish-Above 22450
Invalid-Below 22400
T- 22655 22840

Bearish-Below 22350
Invalid-Above 22400
T- 22190 21980

NIFTY has closed almost on a flat note today with minor gain of 0.12% today. Nothing triggered as per trade setup and was a complete sideways day within less than 90 points range for the whole day. It has formed a indecision candle, spinning top in daily TF. We will simply trade above and below this tight range. 22450 and 22350 is the range to be looked for breakout. 22190 will be an intraday support zone as per half bat pattern.

Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22655 and 22840.

For selling we need a 15 Min candle close below 22350. T- 22190 and 21980.

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.