NIFTY Intraday Trade Setup For 2 Nov 2024

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NIFTY Intraday Trade Setup For 2 Nov 2024

Bullish-Above 24190
Invalid-Below 24140
T- 24415

Sell-Below 24060
Invalid-Above 24110
T- 23850

NIFTY has closed on a bullish note with 1% gain last week. It filled the gap created on 25 Nov then recovered and formed a Pinbar candle in weekly charts. 24400 is last swing high in daily TF. Breakout will initiate a bullish reversal move. 50 EMA is also placed at swing high, breakout will turn sentiment bullish. 24190 and 24060 are intraday levels for next session.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24190 then we will long for the target of 24415.

For selling we need 15 Min candle close below 24060. T- 23850.

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.

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NIFTY Intraday Trade Setup For 2 Dec 2024