NIFTY Intraday Trade Setup For 16 Feb 2022
NIFTY Intraday Trade Setup For 16 Feb 2022
Buy-Above 17400
Sl-17350
T-17500 17550 17600
Sell-Below 17250
Sl-17300
T-17200 17100
NIFTY has made a complete bullish engulfing candle today. We planned to sell below 16800 for today. But that level did not come and that was invalid. Our buying level was 17100. It got triggered and gave us 270 points from there. However after 10 o'clock we saw that bulls took charge and lower lows were stopped .At 10:45 we saw swing breakout. It was a good profitable day.
Coming to tomorrow's trade setup, index is likely to trade in range after a good move. As closing is good we will firstly buy above 17400. If a 15 min candle closes above 17375. and then 17400 is taken out then buy for the target of 17500 and 17550+ levels. However index may not be that trendy.
For selling if index makes a range between 17370 and 17280 and breaks the range downside. Then we will sell for the target of 17150 and 17100.
Trending move in upside will be seen above 17460.This move will fill the gap area of 17580-17600.
Buy-Above 17400
Sl-17350
T-17500 17550 17600
Sell-Below 17250
Sl-17300
T-17200 17100
NIFTY has made a complete bullish engulfing candle today. We planned to sell below 16800 for today. But that level did not come and that was invalid. Our buying level was 17100. It got triggered and gave us 270 points from there. However after 10 o'clock we saw that bulls took charge and lower lows were stopped .At 10:45 we saw swing breakout. It was a good profitable day.
Coming to tomorrow's trade setup, index is likely to trade in range after a good move. As closing is good we will firstly buy above 17400. If a 15 min candle closes above 17375. and then 17400 is taken out then buy for the target of 17500 and 17550+ levels. However index may not be that trendy.
For selling if index makes a range between 17370 and 17280 and breaks the range downside. Then we will sell for the target of 17150 and 17100.
Trending move in upside will be seen above 17460.This move will fill the gap area of 17580-17600.
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