NIFTY Intraday Trade Setup For 5 Nov 2024
NIFTY Intraday Trade Setup For 5 Nov 2024
Sell_1-From 24175
Invalid-Above 24225
T- 23950
Sell_2- Below 23800
Invalid-Above 23850
T- 23570
NIFTY has closed on a bearish note with 1.27% cut today. Index was just trendy after triggering short as per trade setup. Also index is approaching our position short target - 23700 zone. We have been riding short from 24850 zone which was updated on 17 Oct. We will keep riding this until our trailing sl is hit. If a daily candle closes above PDH then we exit and there will be chance of sentiment change.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 23800 then we will short for the target of 23570.
We will also short from 24175 in case tested in the 1st hour. T- 23950
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Sell_1-From 24175
Invalid-Above 24225
T- 23950
Sell_2- Below 23800
Invalid-Above 23850
T- 23570
NIFTY has closed on a bearish note with 1.27% cut today. Index was just trendy after triggering short as per trade setup. Also index is approaching our position short target - 23700 zone. We have been riding short from 24850 zone which was updated on 17 Oct. We will keep riding this until our trailing sl is hit. If a daily candle closes above PDH then we exit and there will be chance of sentiment change.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 23800 then we will short for the target of 23570.
We will also short from 24175 in case tested in the 1st hour. T- 23950
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
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