📊 **Technical Analysis for NIFTY on 23-11-23: Trading Strategies during WAVE 2 (Intermediate)** 🚀
In the context of NIFTY trading within WAVE 2 on the hourly chart, here's a detailed trade plan:
**If Nifty Opens Above 18840 and Takes Support at 19824:**
- Nifty has the potential to ascend to the range of 19900 – 19930.
- Caution: Possible rejections and a trading range between 19900-19930.
- A break above 19930 could initiate a new series of waves, paving the way for new highs in the future.
- No specific trade recommendations if Nifty opens with a gap up above 19871.
**Buying Opportunities:**
- Look for buying opportunities near 19763.
- Set a Stop Loss at 19725.
- Target Range: 19850 - 19900.
**Selling Opportunities:**
- If Nifty falls below 19725:
- Look for selling opportunities with a Stop Loss at 19760.
- Target Range: 19690-19672 and 19650-19627.
**Buyers' Perspective:**
- Buyers can identify ideal buying opportunities within the specified ranges, anticipating upcoming new highs.
🌐 **Trade Strategy:**
This analysis provides insights into potential entry and exit points, emphasizing the importance of adapting to market conditions. Traders are encouraged to exercise diligence and capitalize on opportunities that align with their risk tolerance.
Let's approach the market with strategic precision and position ourselves for potential gains! 📈💹
In the context of NIFTY trading within WAVE 2 on the hourly chart, here's a detailed trade plan:
**If Nifty Opens Above 18840 and Takes Support at 19824:**
- Nifty has the potential to ascend to the range of 19900 – 19930.
- Caution: Possible rejections and a trading range between 19900-19930.
- A break above 19930 could initiate a new series of waves, paving the way for new highs in the future.
- No specific trade recommendations if Nifty opens with a gap up above 19871.
**Buying Opportunities:**
- Look for buying opportunities near 19763.
- Set a Stop Loss at 19725.
- Target Range: 19850 - 19900.
**Selling Opportunities:**
- If Nifty falls below 19725:
- Look for selling opportunities with a Stop Loss at 19760.
- Target Range: 19690-19672 and 19650-19627.
**Buyers' Perspective:**
- Buyers can identify ideal buying opportunities within the specified ranges, anticipating upcoming new highs.
🌐 **Trade Strategy:**
This analysis provides insights into potential entry and exit points, emphasizing the importance of adapting to market conditions. Traders are encouraged to exercise diligence and capitalize on opportunities that align with their risk tolerance.
Let's approach the market with strategic precision and position ourselves for potential gains! 📈💹