Nifty Trade Setup for 08th Nov. 2021

8 nov 2021

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Good Morning, Everyone. I hope you guys have enjoyed this long weekend. Now time to go back to work. First, Our Market has been closed Thursday and Friday sessions, but India USD and Sgx are both open. India USD is trading on 17,987, which is a clear sign for a gap-up opening.
I did some analysis yesterday and found that the IT and Auto sector can lead nifty in this week.



I Have posted two charts and tried to explain the current market scenario. We can see a short-term uptrend in the 15-minute time frame. 18,035 is the Harmonic PRZ area, which is confirmed as resistance in a 2-hour time frame as well.18,035 is a critical level in the Intraday can accept a short-covering move on breakout

Key & Intraday Resistance : 18,035-18,050
Intraday Support : 17,900
Key Support : 17,750

Trade accordingly