Nifty Intraday Trade Setup | 1st September 2021

Nifty opened flat with 10-15 points in green and after consolidation, Nifty was able to sustain above our buying price 16950 and hit all our marked targets on buying side. Due to IT stocks, we saw a sharp up-move and the Nifty closed above 17100.

For tomorrow, we may see some profit booking if Nifty reaches 17200 zones, RSI on daily time frame is also above 80 so Buyers need to be cautious as we also can see a sudden fall of 300-500 points.

Also, SEBI is imposing new peak margin rules from tomorrow so we would be observing how it impacts the F&O segment in Indices.

Expectations for Tomorrow: Range-bound Day, Sharp Selling after 2:00 PM.

Intraday Levels:
Buy Above - 17150
Sell Below - 17050

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Happy Trading!
InvestPro India Team

Comment:

Booked great profit in 17250 PE, bought at 105, Booked profit at 140.