NIFTY Intraday Trade Setup For 7 May 2024
NIFTY Intraday Trade Setup For 7 May 2024
Buy-Above 22600
Invalid-Below 22550
T- 22810
Bearish-Below 22340
Invalid-Above 22390
T- 22100 21885
NIFTY has closed on a slight bearish note with 0.15% cut today. It gaped up and did not trigger any trade levels. Infact it traded between previous day's range. Tomorrow if it opens flat and 22340 is sustained then we can witness a good trendy move towards 22100 as per ABCD calculation. 22100 zone will be an intraday support tomorrow. Above 22600 index will violet 3rd May fall and bulls will take charge for ATH.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22600 then we will long for the target of 22810.
For selling we need a 15 Min candle close below 22340. T- 22100 and 21885.
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.
Buy-Above 22600
Invalid-Below 22550
T- 22810
Bearish-Below 22340
Invalid-Above 22390
T- 22100 21885
NIFTY has closed on a slight bearish note with 0.15% cut today. It gaped up and did not trigger any trade levels. Infact it traded between previous day's range. Tomorrow if it opens flat and 22340 is sustained then we can witness a good trendy move towards 22100 as per ABCD calculation. 22100 zone will be an intraday support tomorrow. Above 22600 index will violet 3rd May fall and bulls will take charge for ATH.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22600 then we will long for the target of 22810.
For selling we need a 15 Min candle close below 22340. T- 22100 and 21885.
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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