Nifty trading strategy for tomorrow
Nifty looks positive as today's fall seems like retracement only. Nifty closes near support range 15770-15740 and near 61.8% Fib retracement level. Multiple supports on downside.
If nifty open flat or gap up, initiate long if 15 min candle closes above 15800 with SL - 15750. If nifty opens gap down wait for initial hour for trend confirmation.
Nifty looks positive as today's fall seems like retracement only. Nifty closes near support range 15770-15740 and near 61.8% Fib retracement level. Multiple supports on downside.
If nifty open flat or gap up, initiate long if 15 min candle closes above 15800 with SL - 15750. If nifty opens gap down wait for initial hour for trend confirmation.
Comment:
Seems like nifty is opening big gap up.....wait for 15-30 mins for price action and try to go long near 15800