NIFTY Intraday Trade Setup For 5 Feb 2025
NIFTY Intraday Trade Setup For 5 Feb 2025
Bullish-Above 23770
Invalid-Below 23720
T- 24050
Bearish-Below 23500
Invalid-Above 23550
T- 23250
NIFTY has closed on a bullish note with 1.62% gain today. It has closed above 50 EMA in daily TF after almost 2 months. Index has consolidated within small range for last 20 days, it has started to rise again but I wont turn bullish until it gives a pullback and then start to make a bullish price structure in daily TF. Since it has closed above EMA bullishness may continue tomorrow above 23770.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23770 then we will long for the target of 24050.
For selling we need a 15 Min candle close below 23500. T- 23245.
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.
Bullish-Above 23770
Invalid-Below 23720
T- 24050
Bearish-Below 23500
Invalid-Above 23550
T- 23250
NIFTY has closed on a bullish note with 1.62% gain today. It has closed above 50 EMA in daily TF after almost 2 months. Index has consolidated within small range for last 20 days, it has started to rise again but I wont turn bullish until it gives a pullback and then start to make a bullish price structure in daily TF. Since it has closed above EMA bullishness may continue tomorrow above 23770.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23770 then we will long for the target of 24050.
For selling we need a 15 Min candle close below 23500. T- 23245.
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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