NIFTY Intraday Trade Setup For 12 Aug 2022
Buy-Above 17720
Sl-17665
T-17790 17845
Sell-Below 17630
Sl-17685
T-17560 17500
NIFTY has closed with 0.7% gain today. It opened with a big gap up and showed weakness from the first candle. We planned to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range broke downside below 17668 and gave just 35 points gain.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above above today's high- 17720 then we will long for the target of 17790-17800. Next upside target will near 17850.
For selling we need a 5/15 Min candle close below 17630. Target will be 17560 and 17500.
A big gap up above 17800 can trigger profit booking ahead of weekend.
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 17720
Sl-17665
T-17790 17845
Sell-Below 17630
Sl-17685
T-17560 17500
NIFTY has closed with 0.7% gain today. It opened with a big gap up and showed weakness from the first candle. We planned to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range broke downside below 17668 and gave just 35 points gain.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above above today's high- 17720 then we will long for the target of 17790-17800. Next upside target will near 17850.
For selling we need a 5/15 Min candle close below 17630. Target will be 17560 and 17500.
A big gap up above 17800 can trigger profit booking ahead of weekend.
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.
