NIFTY Intraday Trade Setup For 03 Nov 2023
Bullish-Above 19180
Invalid-Below 19130
T- 19286 19405
Bearish-Below 19060
Invalid-Above 19110
T- 18973 18890
NIFTY has closed on a bullish note with 0.76% after 2 back to back red days. This EOD gain is totally contributed by the gap up opening. 10 o'clock range broke downside below 19106 and made a low of 19065, previous swing high was 19130. On 31 Oct EOD we already discussed that 19235-50 is very important hourly swing high for a bullish reversal. While we already discussed that probability of a halt candle this week is also high. Tomorrow above 19180 we can see good continuation of today's sentiment and below 19060 a bearish move.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 19180 then we will long for the target of 19286 and 19405.
For selling we need a 15 Min candle close below 19060. T- 18973 and 18890.
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 19180
Invalid-Below 19130
T- 19286 19405
Bearish-Below 19060
Invalid-Above 19110
T- 18973 18890
NIFTY has closed on a bullish note with 0.76% after 2 back to back red days. This EOD gain is totally contributed by the gap up opening. 10 o'clock range broke downside below 19106 and made a low of 19065, previous swing high was 19130. On 31 Oct EOD we already discussed that 19235-50 is very important hourly swing high for a bullish reversal. While we already discussed that probability of a halt candle this week is also high. Tomorrow above 19180 we can see good continuation of today's sentiment and below 19060 a bearish move.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 19180 then we will long for the target of 19286 and 19405.
For selling we need a 15 Min candle close below 19060. T- 18973 and 18890.
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.
