Nifty Intraday Trade Setup | 8th Jan '24

Today Nifty opened with a gap-up above 21700 which was our buy level, and remained in the range until 10:30 am. Nifty broke it's range on the downside, and we took Sell trade on the breakdown which gave quick 30 points profit.

For Monday, until Nifty cross 21800 we are not comfortable in buying as there are multiple resistances in 21750 - 21800 zone. Let Nifty sustain above 21800, we expect to see some upside towards 21830 and upper marked levels. However, for further rally 21850 is the deciding level, once it's crossed we expect to see 250 - 350 points fast up move.

On the downside, once Nifty sustains below 21630 which is today's low we may see further downside towards 21590 and below marked levels on the chart. To break the current uptrend, Nifty has to sustain below 21500 which is critical level on the downside.

Expectations: Volatile Day

Intraday Levels:
Buy Above - 21820
Sell Below - 21630

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Happy Trading!
InvestPro India

עסקה סגורה: היעד הושג:

Sell level triggered and all targets done.