NIFTY has closed on a positive note with 0.75% gain. It has closed above the psychological level 18000. Last day we planned to buy above 17981 for the target of 18087 which was hit. But it opened with a decent gap up. We already planned to trade on 10 o'clock range breakout in case of any big gap up/down. It broke upside above 18065 and gave a small move till our planned target 18087.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 18090 then we will long for the target of 18150 and 18217.
On a flat opening if a 5/15 Min candle closes below 18057 then we will short for the target of 18020, 17980 and 17925.
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.
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.