Nifty- Intraday

Mahesh_Walse Updated   
NSE:NIFTY   Nifty 50 Index
🔰 Educational Purpose
Date- 24-08-2021

Yesterdays High 16592 and Low 16395, thats why told you play on Support resistance level .

🔰 Intraday View:-

♻️ Flat Opening
-Below 16470 (5min candle closing) downside up to 16440 16400
-Above 16535 closing will lead further 16560 16580 level

♻️ Gap Up-above 16535
Try to buy near 16500 with strict 30 points Sl.

♻️ Gap Down -(Below 16470)
Downside opens 16420 16380

-Put strict SL loss.
- If take trade at right point then your 20-30 points cash SL is also enough.
- Take trade on candle Closing basis
Comment: As per gap up strategy, only enter near 16500 and check exactly we made low of 16495
If you are smart enough and take your position at right time then you will get min 1:3 risk reward and maximum 1:5 on just holding it patiently.

Beauty of Technical analysis.


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