NIFTY Intraday Trade Setup For 5 Jul 2024
Bullish-Above 24410
Invalid-Below 24360
T- 24590
Bearish-Below 24280
Invalid-Above 24330
T- 24090
NIFTY has closed on a complete flat note today. It opened with 80 points gap up and ended at buy level. Till now we have been closing above PDL, close will PDL will give us a hint that bulls are not much interested. But in terms of trading executions we need bearish price action in daily TF after closing below PDL. Chances of a cool off is high as tomorrow is last session of the week, people may book longs as the whole week was in favor.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24410 then we will long for the target of 24590.
For selling we need a 15 Min candle close below 24280. T- 24090.
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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