Sacredmonkey

Nifty trading Plan - 16th July

Long
NSE:NIFTY   Nifty 50 Index
Summary

► HTF is in uncharted area with a Bullish candle, which infers "Positive" bias". If sellers can push market below 15760 then we may see sellers upper hand, else Bulls will take control.
Pivot analysis infers TRENDING DAY bias.
► Support levels 15895/15858
► Resistance levels 15941.
► If market can hold off tomorrow and close above 15850, we may see bullish momentum for few week/medium term.
► I don’t know how many of you noticed, but OPEN INTEREST went way too high today for the month July. So, can we expect a momentum play in this month? Do, let me know in comments.
► PS: I am not into OI readings, but since it’s a significant change bought this to attention, would love to know from some experts here.

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Step 1 - Strategies to be deployed -

l Open drive .
l PPT .
l CPRRVL

Step 2 - Trading Plan

1. Any bullish PA above 15900 is stop of 15881 and target of 15936.
2. Any bullish PA above 15925 is stop of 15905 and target of 15952 . (Scalp)
3. Aggressive long above 15968 is stop of 15951 and target of 16000.
4. Any bearish PA below 15883 is stop of 15901 and target of 15861. (Scalp)
5. Aggressive short below 15852 is short with stop of 15869 and target of 15815.


This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.

Bonne chance!!
@Sacredmonkey

Trade closed: target reached: Plan 1 done
Trade closed: stop reached: Plan 2 target missed by 5 points and SL hit. It was scalp trade, hope you guys scalped for 1:1 RR Ratio which is 15946. else, will consider as SL hit.

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