NIFTY Intraday Trade Setup For 27 May 2022
Buy-Above 16205
Sl-16150
T-16260 16360 16400
Buy_2- From 16000
Sl-16950
T-16100 16200 16260
NIFTY has formed a hammer candle in daily TF and closed almost 1% up today. We planned to sell below 16000.It opened with a decent gap up. 10 o'clock range broke downside below 16020 and hit our 1st target 15900. After hitting 1st target it made double bottom in 5 Min TF and gave a V-shape recovery till 16200.
Coming to tomorrow's trade setup, if index opens flat and crosses 16205, will buy for the target of 16260 and 16360. Above 16420 a fresh up-move is expected.
In case index touches 16000 and a price reversal is spotted in small TF then long from here for the target of 16100,16200 and 16260.
Selling will be planned below 16900 only.
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.
Intraday Support- 16000
Intraday Resistance- 16350-16400
Hourly Support- 16750
Hourly Resistance- 16400
Buy-Above 16205
Sl-16150
T-16260 16360 16400
Buy_2- From 16000
Sl-16950
T-16100 16200 16260
NIFTY has formed a hammer candle in daily TF and closed almost 1% up today. We planned to sell below 16000.It opened with a decent gap up. 10 o'clock range broke downside below 16020 and hit our 1st target 15900. After hitting 1st target it made double bottom in 5 Min TF and gave a V-shape recovery till 16200.
Coming to tomorrow's trade setup, if index opens flat and crosses 16205, will buy for the target of 16260 and 16360. Above 16420 a fresh up-move is expected.
In case index touches 16000 and a price reversal is spotted in small TF then long from here for the target of 16100,16200 and 16260.
Selling will be planned below 16900 only.
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.
Intraday Support- 16000
Intraday Resistance- 16350-16400
Hourly Support- 16750
Hourly Resistance- 16400
