NIFTY Intraday Trade Setup 4 May 2022
Buy-Above 17100
Sl-17040
T-17200 17300
Sell-Below 16900
Sl-16950
T-16850 16800
NIFTY closed almost flat on Monday. It filled the gap created on the same day itself. NIFTY is trading in a zone of 16800 and 17450. So it has given a bounce from lower levels. So we can expect a further upside move above Monday's high i.e 17095. If a 15 Min candle closes above this then we will long for the target of 17200. 2nd target will be 17300.
For selling we need to wait till 16900 is broken in the downside. Aggressive traders can plan for a short trade below 17000 if 15 Min candle closes below. Target in that case will be 16900 and 16850.
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 17100
Sl-17040
T-17200 17300
Sell-Below 16900
Sl-16950
T-16850 16800
NIFTY closed almost flat on Monday. It filled the gap created on the same day itself. NIFTY is trading in a zone of 16800 and 17450. So it has given a bounce from lower levels. So we can expect a further upside move above Monday's high i.e 17095. If a 15 Min candle closes above this then we will long for the target of 17200. 2nd target will be 17300.
For selling we need to wait till 16900 is broken in the downside. Aggressive traders can plan for a short trade below 17000 if 15 Min candle closes below. Target in that case will be 16900 and 16850.
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.
