NIFTY Intraday Trade Setup For 4 Apr 2024

NIFTY Intraday Trade Setup For 4 Apr 2024

Bullish-Above 22530
Invalid-Below 22480
T- 22767

Bearish-Below 22390
Invalid-Above 22440
T- 22190

NIFTY has closed at a striking distance to ATH and on verge of a ATH breakout. It ended on a flat note today. Tomorrow if at all it breaks ATH then possibility of a shot covering rally is high. A strong momentum trade can be planned above 22530 which will be best directional for tomorrow. 22390 is intraday support so below 22390 we will plan a short trade, target of 22190 will be confirmed below today's low. High probability trade is in buy side.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22767.

For selling we need a 15 Min candle close below 22390. T- 22190.

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.