NIFTY Intraday Trade Setup For 2 Sep 2022
Buy-Above 17575
Sl- 17525
T- 17670 17757
Sell-Below 17465
Sl-17520
T- 17380 17300
NIFTY has closed on a negative note with more than 1.2% cut. It opened with a huge gap down nearly 1.5%. All levels were invalid due to the big gap down. But we expected that a bounce will come from 17535 level so has happened. 10 o'clock range broke upside above 17650 and gave more than 45 points gain. An inside candle has been formed in daily TF. Above and below the mother candle's high a move is expected either side. Broader range is 18000 and 17150.
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle is closed above 17575 after a pullback then we will long for the target of 17670. Above 17700 we will test the 17760 and above.
For selling we need a 5/15 Min candle close below 17467 then we will short for the target 17380, 17300 and 17160.
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 17575
Sl- 17525
T- 17670 17757
Sell-Below 17465
Sl-17520
T- 17380 17300
NIFTY has closed on a negative note with more than 1.2% cut. It opened with a huge gap down nearly 1.5%. All levels were invalid due to the big gap down. But we expected that a bounce will come from 17535 level so has happened. 10 o'clock range broke upside above 17650 and gave more than 45 points gain. An inside candle has been formed in daily TF. Above and below the mother candle's high a move is expected either side. Broader range is 18000 and 17150.
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle is closed above 17575 after a pullback then we will long for the target of 17670. Above 17700 we will test the 17760 and above.
For selling we need a 5/15 Min candle close below 17467 then we will short for the target 17380, 17300 and 17160.
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.
