NIFTY Intraday Trade Setup For 6 Feb 2025

NIFTY Intraday Trade Setup For 6 Feb 2025

Bullish-Above 23810
Invalid-Below 23760
T- 24050

Bearish-Below 23600
Invalid-Above 23650
T- 23355

NIFTY has closed on a slight bearish note with 0.18% cut today. Yesterday we discussed that index closed above 50 EMA but we will consider a bullish reversal only after a pullback. Looks it tuned and gave a small decline. However it may decline further below today's low. As of now 23800 looks a turning point for a bullish trigger. 23600 will be a confluence zone.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 23810 then we will long for the target of 24050.

For selling we need a 15 Min candle close below 23600. T- 23555.

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.