NIFTY Intraday Trade Setup For 04 Aug 2022
Buy-Above 17410
Sl-17350
T-17500 17600
Sell-Below 17215
Sl-17275
T-17155 17060
NIFTY has closed on a slight positive note with 40 points gain. Closing is near day high. A range (17200-17400) has been formed since last 3 trading sessions. Today it tested the upper range. Above 17410 we will see a range breakout/shift. Range height is of 190 points. So, are likely to see a directional move above and below of the range (17410 - 17215).
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 17410 we will long for the target of 17500 and 17600. Book max near 17600, PRZ placed.
For selling we need a 15 Min candle close below 17215. Post breakdown downside target will be opened till 17060. So 1st target will be 17155 then 17060.
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.
Buy-Above 17410
Sl-17350
T-17500 17600
Sell-Below 17215
Sl-17275
T-17155 17060
NIFTY has closed on a slight positive note with 40 points gain. Closing is near day high. A range (17200-17400) has been formed since last 3 trading sessions. Today it tested the upper range. Above 17410 we will see a range breakout/shift. Range height is of 190 points. So, are likely to see a directional move above and below of the range (17410 - 17215).
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 17410 we will long for the target of 17500 and 17600. Book max near 17600, PRZ placed.
For selling we need a 15 Min candle close below 17215. Post breakdown downside target will be opened till 17060. So 1st target will be 17155 then 17060.
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.
