NIFTY has closed on a bearish note with 0.41% cut today. Sell triggered as per trade setup below 22180 and gave a move till 22080, but targets were not achieved. Tomorrow below 22070 we may see a good sell off and best probability trade seems in downside as per today's closing. Plotted trendline is being followed, breakout of this will lead a bullish impulsive move. 22300 is the gateways for fresh up move in hourly TF.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22210 then e will long for the target of 22430 and 22650.
For selling we need a 15 Min candle close below 22070. T- 21860 and 21658.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
========== I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.