NIFTY Intraday Trade Setup For 28 Feb 2022
Buy-Above 16750
Sl-16700
T-16850 16920 17000
Sell-Below 16590
Sl-16640
T-16500 16400
NIFTY has given a dead cat bounce on Friday's trading session. Half of the move came through gap up. Index was volatile throughout the day. Trending move was seen till 10 o'clock, then index just consolidated with huge volatility.
Coming to Monday's trade setup, we will buy above the range made in the second trading session. If we get a candle close above 16750 then we will buy for the target of 16900 and our second target will be the gap area near 17000.
Then a reversal trade can be planned from 17050-17060.
Foe selling if we get a 15 candle close below 16600 then below 16595 we will sell for the target of 16480-16500. Second target will be 16400.
In case of a big gap up or gap down, we will wait for a range till 10 o'clock and then trade that range breakout/breakdown.
Seeing global markets and SGX Nifty , we are likely to open gap up in Monday's trading session. In this case we we find any negative price action after the 1st 5 min candle then we will plan for sell.
Buy-Above 16750
Sl-16700
T-16850 16920 17000
Sell-Below 16590
Sl-16640
T-16500 16400
NIFTY has given a dead cat bounce on Friday's trading session. Half of the move came through gap up. Index was volatile throughout the day. Trending move was seen till 10 o'clock, then index just consolidated with huge volatility.
Coming to Monday's trade setup, we will buy above the range made in the second trading session. If we get a candle close above 16750 then we will buy for the target of 16900 and our second target will be the gap area near 17000.
Then a reversal trade can be planned from 17050-17060.
Foe selling if we get a 15 candle close below 16600 then below 16595 we will sell for the target of 16480-16500. Second target will be 16400.
In case of a big gap up or gap down, we will wait for a range till 10 o'clock and then trade that range breakout/breakdown.
Seeing global markets and SGX Nifty , we are likely to open gap up in Monday's trading session. In this case we we find any negative price action after the 1st 5 min candle then we will plan for sell.
