NIFTY Intraday Trade Setup For 2 Jan 2023
NIFTY Intraday Trade Setup For 2 Jan 2023
Buy-Above 18210
Sl-18160
T- 18327 18490
Sell-Below 18080
Sl-18130
T-17990 17855
NIFTY has closed on bearish note on Friday with almost 0.5% cut. Monthly candle is a bit negative as it has almost engulfed the previous candle. So index will resume uptrend above this big red candle's high- 17890. Till then index is likely to be in decline phase. Weekly candle is a bullish candle which has closed at 50% of the last red candle. So trigger of bullish sentiment will be above its high and there has to be a good price structure in daily TF. Next important support for the very next day will be 17950 zone.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 18210 then we will long for the the target of 18327, 18400 and 18490.
For selling we need a 15 Min candle close below 18080. T- 17955-80. Below 17950 if sustained the we will test 17855 and 17800.
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 18210
Sl-18160
T- 18327 18490
Sell-Below 18080
Sl-18130
T-17990 17855
NIFTY has closed on bearish note on Friday with almost 0.5% cut. Monthly candle is a bit negative as it has almost engulfed the previous candle. So index will resume uptrend above this big red candle's high- 17890. Till then index is likely to be in decline phase. Weekly candle is a bullish candle which has closed at 50% of the last red candle. So trigger of bullish sentiment will be above its high and there has to be a good price structure in daily TF. Next important support for the very next day will be 17950 zone.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 18210 then we will long for the the target of 18327, 18400 and 18490.
For selling we need a 15 Min candle close below 18080. T- 17955-80. Below 17950 if sustained the we will test 17855 and 17800.
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.
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