NIFTY Intraday Trade Setup For 08 Feb 2024
NIFTY Intraday Trade Setup For 08 Feb 2024
Bullish-Above 22060
Invalid-Above 22010
T- 22210 22350
Bearish-Below 21850
Invalid- 21900
T- 21689 21487
NIFTY has closed on an absolute flat note today. it opened with 0.5% gap up above our buy level. 10 o'clock range was to be used as per trade setup which broke downside below 21960 and last swing high/sl was 22022. It gave a small move till 21860, so more than 90 points move given as per 10 o'clock range breakout. The intraday momentum has contracted this is probably due to VIX cool off after Budget which was a major event.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22060. T- 22210 and 22350.
For selling we need a 15 Min candle close below 21850. T- 21689 and 21487.
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 22060
Invalid-Above 22010
T- 22210 22350
Bearish-Below 21850
Invalid- 21900
T- 21689 21487
NIFTY has closed on an absolute flat note today. it opened with 0.5% gap up above our buy level. 10 o'clock range was to be used as per trade setup which broke downside below 21960 and last swing high/sl was 22022. It gave a small move till 21860, so more than 90 points move given as per 10 o'clock range breakout. The intraday momentum has contracted this is probably due to VIX cool off after Budget which was a major event.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22060. T- 22210 and 22350.
For selling we need a 15 Min candle close below 21850. T- 21689 and 21487.
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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