InvestPro_India

Nifty Intraday Trade Setup | 3rd August 2021

NSE:NIFTY   Nifty 50 Index
Nifty opened with a gap-up and remained in a tight range for the whole day. Banks are stopping Nifty to reach 16000 levels and we saw that today as well, we bought Nifty 15900 PE at 75 which went to around 100 and we booked great profit.

Nifty has tried multiple times to break the 15900 - 16000 range. We can soon the new ATH in Nifty , need a bit of support from BankNifty .

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above - 15900
Sell Below - 15840

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team
Comment: As expected market opens strongly but near resistance, selling at tops and would be buying at lows.
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Comments

Bro we're interested in swing picks(short term)..Please post them more often..
+2 Reply
@Tapasnayak, Would do that.
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I have bought nifty 15900 put so is it possible to drop from current level now mkt trading at 15980
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@manojbhume, updated yesterday that we can see ATH soon... now we may see some rejection at 16000-16030 levels.
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Ankit_Torak InvestPro_India
@InvestPro_India, Do we expect gap down for tomorrow.
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InvestPro_India Ankit_Torak
@Ankit_Torak, Must have booked great profit today, may open flat or gap-up but tomorrow we may see a sudden fall.
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Ankit_Torak InvestPro_India
@InvestPro_India, today was definitely profit. But watching out for gap down for tomorrow as have booked some on PE 16000.
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jainkalpesh1988 InvestPro_India
@InvestPro_India, Tomorrow nifty target..?
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What do you think of CE 15900 for tomorrow
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InvestPro_India Ankit_Torak
@Ankit_Torak, Expecting a rise in Nifty tomorrow, may get profit.
Reply