NIFTY Intraday Trade Setup For 01 Aug 2023
Bullish-Above 19775
Invalid-Below 19725
T- 19855 19935
Bearish-Below 19670
Invalid-Above 19720
T- 19565 19470
NIFTY has closed on a bullish note with 0.55% gain today. In the weekend we discussed that 19560 is an important weekly level below which a short would open for 18750 zone. But before that it formed a Pin bar candle in daily TF on Friday and expected bullish momentum above 19670, so has happened. Buy triggered as per trade setup above 19670 and hit our 1st target very smoothly. Trade gave around 100 points (19670-19772). After a small pullback from today's high if it gives a breakout then bullish momentum likely to continue.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 19775 then we will long for the target of 19855 and 19935.
For selling we need a 15 min candle close below 19670. T- 19565 and 19470.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Bullish-Above 19775
Invalid-Below 19725
T- 19855 19935
Bearish-Below 19670
Invalid-Above 19720
T- 19565 19470
NIFTY has closed on a bullish note with 0.55% gain today. In the weekend we discussed that 19560 is an important weekly level below which a short would open for 18750 zone. But before that it formed a Pin bar candle in daily TF on Friday and expected bullish momentum above 19670, so has happened. Buy triggered as per trade setup above 19670 and hit our 1st target very smoothly. Trade gave around 100 points (19670-19772). After a small pullback from today's high if it gives a breakout then bullish momentum likely to continue.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 19775 then we will long for the target of 19855 and 19935.
For selling we need a 15 min candle close below 19670. T- 19565 and 19470.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
