NIFTY Intraday Trade Setup For 1 Feb 2023
Buy-Above 17740
Sl-17690
T-17900 18040+
Sell-Below 17535
Sl-17585
T-17405 17165
NIFTY has closed on absolute flat note for the second consecutive day. Calm before the storm and nothing else; total contraction in hourly TF. I hope everyone closed any swing position carrying positionally. Important levels in hourly TF are 17740 and 17400. Breakout of this range will trigger the next directional move. For safe traders it better to avoid trading tomorrow as it will be sentimental moves. However a directional move will be seen post 12 o'clock. Its a common thing since last many Budgets in the past. Daily candle is looks like a buyer sentiment candle above its high bullishness may continue and below its low aggressive selling can also be seen.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17740 then we will long. T- 17900,18040. Ext- 18300.
For selling we need a 15 Min candle close below 17535. T- 17405. Below 17400 it can dive till 17165. Ext T- 17000.
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.
Buy-Above 17740
Sl-17690
T-17900 18040+
Sell-Below 17535
Sl-17585
T-17405 17165
NIFTY has closed on absolute flat note for the second consecutive day. Calm before the storm and nothing else; total contraction in hourly TF. I hope everyone closed any swing position carrying positionally. Important levels in hourly TF are 17740 and 17400. Breakout of this range will trigger the next directional move. For safe traders it better to avoid trading tomorrow as it will be sentimental moves. However a directional move will be seen post 12 o'clock. Its a common thing since last many Budgets in the past. Daily candle is looks like a buyer sentiment candle above its high bullishness may continue and below its low aggressive selling can also be seen.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17740 then we will long. T- 17900,18040. Ext- 18300.
For selling we need a 15 Min candle close below 17535. T- 17405. Below 17400 it can dive till 17165. Ext T- 17000.
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.
