NIFTY Intraday Trade Setup For 7 Apr 2022
Buy- Above 17900
Sl-17850
T-17965 18060
Sell- Below 17779
Sl-17830
T-17700 17590
NIFTY opened with a gap down of 100 points. It opened below our sell level - 17880. Took resistance twice and fell each time and hit our target 17800 in sell side. The 10 o'clock range was not tested. Traded in a absolute range. This range will be useful in the next day. Our trade will based on this range breakout.
Today is the 1st day after a week that index has tested its previous low. It has tested and closed below previous day low. So, profit booking is expected. Your can call "retracement of the impulse".
Coming to the expiry day trade setup, we will sell below today's low i.e 17799. Ideal trade will be on flat opening, where our Sl will be safe and small. 1st target will be the gap area - 17700-17670. Next target will be our PRZ area plotted- 17590-17600. Book max here.
For buying we need a 15 Min candle close above 17900. 1st target will be near 18000. Next target will be 18060. Above 18120 next trendy move will come. One small scalp can be done above 17850 for the target of 17900.
In case of a big gap up/down, mark the high and low of the trading range till 10 o'clock and trade on range breakout.
Buy- Above 17900
Sl-17850
T-17965 18060
Sell- Below 17779
Sl-17830
T-17700 17590
NIFTY opened with a gap down of 100 points. It opened below our sell level - 17880. Took resistance twice and fell each time and hit our target 17800 in sell side. The 10 o'clock range was not tested. Traded in a absolute range. This range will be useful in the next day. Our trade will based on this range breakout.
Today is the 1st day after a week that index has tested its previous low. It has tested and closed below previous day low. So, profit booking is expected. Your can call "retracement of the impulse".
Coming to the expiry day trade setup, we will sell below today's low i.e 17799. Ideal trade will be on flat opening, where our Sl will be safe and small. 1st target will be the gap area - 17700-17670. Next target will be our PRZ area plotted- 17590-17600. Book max here.
For buying we need a 15 Min candle close above 17900. 1st target will be near 18000. Next target will be 18060. Above 18120 next trendy move will come. One small scalp can be done above 17850 for the target of 17900.
In case of a big gap up/down, mark the high and low of the trading range till 10 o'clock and trade on range breakout.
