NIFTY Intraday Trade Setup For 7 Nov 2024
Bullish-Above 24550
Invalid-Below 24500
T- 24800 25050
Bearish-Below 24280
Invalid-Above 24330
T- 24020
NIFTY has closed on a bold bullish note with 1.12% gain today. It has almost touched 23700 zone, made a low of 23816.15 on 4 Nov. So our swing sell target was met. It has closed above PDH so bearish sentiment is void now chance of a halt or bullish reversal is on cards. 24550 and 24280 are intra levels for tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24550 then we will long for the target of 24800 and 25050.
For selling we need a 15 Min candle close below 24280. T- 24022.
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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