NIFTY Intraday Trade Setup For 7 Feb 2023
Buy-Above 17785
Sl-17735
T-17870 17970
Sell-Below 17695
Sl-17745
T-17615 17545
NIFTY has closed on a bearish sentiment with 0.5% cut today. It is inside the range of ultra wide range of Budget day and now it is also inside yesterday's range. Total volatility contraction due to IV crash. Today It opened flat and just traded inside 10 o'clock range the whole day. 17700 which was plotted yesterday as a support was defended. We will simply use today's range (17785-17695) to build our trade the next day.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 17785 then we will long for the target of 17870 and 17970+.
For selling we need a 15 Min candle close below 17695. T- 17615 and 17545.
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 17785
Sl-17735
T-17870 17970
Sell-Below 17695
Sl-17745
T-17615 17545
NIFTY has closed on a bearish sentiment with 0.5% cut today. It is inside the range of ultra wide range of Budget day and now it is also inside yesterday's range. Total volatility contraction due to IV crash. Today It opened flat and just traded inside 10 o'clock range the whole day. 17700 which was plotted yesterday as a support was defended. We will simply use today's range (17785-17695) to build our trade the next day.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 17785 then we will long for the target of 17870 and 17970+.
For selling we need a 15 Min candle close below 17695. T- 17615 and 17545.
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.
