NIFTY Intraday Trade Setup For 30 Mar 2022
Buy-Above 17350
Sl-17300
T-17420 17500
Sell-Below 17230
Sl-17260
T-17140 17065
NIFTY ha closed at day high. Intraday selling pressure was completely absorbed. Yesterday we planned to buy above 17240 on a flat opening. Index opened with 0.5% gap up. It was a consolidation day. However it took support from the trendline plotted at 17240, our buy level. It gave a 100 points upside move.
Index has closed in a positive note. So, will trade the continuation and buy above 17350 if a min candle is closed above that. Target will the range high near 17420-17440. Above 17450 this range of one week will break and a good directional move is expected , about 400 points.
In case 17400-17450 is treated as resistance then look for selling opportunity from the resistance.
For selling if a 15 Min candle is closed below 17235 then sell below 17230 for the target of 17135 and 17065. Below 17000 this range of one week will break downside.
Ideal trade will be with flat opening. In case of a gap up/down , wait till 10 o'clock and trade that range breakout/down.
Buy-Above 17350
Sl-17300
T-17420 17500
Sell-Below 17230
Sl-17260
T-17140 17065
NIFTY ha closed at day high. Intraday selling pressure was completely absorbed. Yesterday we planned to buy above 17240 on a flat opening. Index opened with 0.5% gap up. It was a consolidation day. However it took support from the trendline plotted at 17240, our buy level. It gave a 100 points upside move.
Index has closed in a positive note. So, will trade the continuation and buy above 17350 if a min candle is closed above that. Target will the range high near 17420-17440. Above 17450 this range of one week will break and a good directional move is expected , about 400 points.
In case 17400-17450 is treated as resistance then look for selling opportunity from the resistance.
For selling if a 15 Min candle is closed below 17235 then sell below 17230 for the target of 17135 and 17065. Below 17000 this range of one week will break downside.
Ideal trade will be with flat opening. In case of a gap up/down , wait till 10 o'clock and trade that range breakout/down.
