NIFTY Intraday Trade Setup For 6 Feb 2023
Buy- Above 17871
Sl-17820
T- 18055 18200
Sell-Below 17580
Sl-17630
T-17465 17350
NIFTY has closed on a slight bullish sentiment this week with 1.42% gain. It was clearly told ahead of budget to exit the positional trade as this budget can shake any side. Ahead of the budget the weekly range (18270 and 17760) broke downside but now it has come at the weekly range once again. Now we have to wait for fresh price action to initiate any positional trade. A perfect piercing candle has been formed in weekly charts. Above its high 17975 this will be confirmed for a bullish momentum. As of now sell view below 17350 only.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17871 then we will long. T- 18055 and 18200+.
For selling we need a 15 Min candle close below 17580. T- 17465 and 17355.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy- Above 17871
Sl-17820
T- 18055 18200
Sell-Below 17580
Sl-17630
T-17465 17350
NIFTY has closed on a slight bullish sentiment this week with 1.42% gain. It was clearly told ahead of budget to exit the positional trade as this budget can shake any side. Ahead of the budget the weekly range (18270 and 17760) broke downside but now it has come at the weekly range once again. Now we have to wait for fresh price action to initiate any positional trade. A perfect piercing candle has been formed in weekly charts. Above its high 17975 this will be confirmed for a bullish momentum. As of now sell view below 17350 only.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17871 then we will long. T- 18055 and 18200+.
For selling we need a 15 Min candle close below 17580. T- 17465 and 17355.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
