NIFTY Intraday Trade Setup For 29 Sep 2022
Buy-Above 17040
Sl-16990
T-17195 17321
Sell-Below 16820
Sl-16875
T-16694 16591
NIFTY has closed on a negative note once again with 0.87% cut. Today our 2nd target in sell side was hit (17400-16821), triggered on 23 Sep 2022. Last day we planned to short below 16940 but it opened with a gap down at our 1st target. 10 o'clock range broke upside @ 16951 and gave a move till 17037. The daily candle is a an inverted hammer which means that bulls tried to take charge but failed. Low of the inverted hammer should be safe and some bullishness will come above 17040.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 16820 then we will short for the target of 16694 and 16591, Book max here.
For buying we need a 15 Min candle close above 17040. Target will be 17120, 17195. Above 17200 fresh upside move can be expected till 17321.
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 17040
Sl-16990
T-17195 17321
Sell-Below 16820
Sl-16875
T-16694 16591
NIFTY has closed on a negative note once again with 0.87% cut. Today our 2nd target in sell side was hit (17400-16821), triggered on 23 Sep 2022. Last day we planned to short below 16940 but it opened with a gap down at our 1st target. 10 o'clock range broke upside @ 16951 and gave a move till 17037. The daily candle is a an inverted hammer which means that bulls tried to take charge but failed. Low of the inverted hammer should be safe and some bullishness will come above 17040.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 16820 then we will short for the target of 16694 and 16591, Book max here.
For buying we need a 15 Min candle close above 17040. Target will be 17120, 17195. Above 17200 fresh upside move can be expected till 17321.
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.
