NIFTY Intraday Trade Setup For 01 Feb 2022 (Budget 2022)

NIFTY Intraday Trade Setup For 01 Feb 2022

Buy-Above 17410
Sl-17375
T-17600 17800 18000

Sell-Below 17260
Sl-17300
T-17100 16800

NIFTY has just consolidated in today's trading session. After opening with a big gap up, NIFTY made a range 140 points. This range is very important for tomorrow's budget session. Before any big moment consolidation is good.

We will simply trade on the range breakout. If we get closing above 17410 and high crossing then will initiate our long position. Targets will be 17770 to 17800.
But after 17800 is tested if index moves again above 17800 then 18000 will be tested.

Below 17260 we will sell for the target of 17100 and 17000. Index can move either side so do not trade with biasness. However aggressive traders can sell below 17300.

Also we will get a range till 12 o'clock in intraday. That range shift trade will also be trending.
Market is likely to give big directional move after 12 o'clock. Before that it will be volatile and sentimental move will be there.

Let Market decide where it is going to go. We have our key levels to go with.