NIFTY Intraday Trade Setup For 8 Apr 2022
Buy-Above 17700
Sl-17650
T-17750 17800 17850
Sell-Below 17620
Sl-17670
T-17560 17500
NIFTY has closed nearly 1% down today. Profit booking from 18000 is still on. After a good run
from 17000 to 18100. We are seeing a profit booking or the pullback of the up move. Index opened with a decent gap down due to global news. Our sell level was 17779, index just crashed from there. It was a good trade and hit our targets. The 10 o'clock range breakout gave small moves both the sides today.
Coming to tomorrow's trade setup, Index has closed at day low, below previous day low. Weakness continues. We planned at 18000 that if a daily candle closes below previous day low then we can plan for the reversal trade. yesterday it closed below previous day low and today we got a good move downside. So, if index open flat and 15 Min candle closes below 17620 then we will sell once again. Target will be 17560, 17500 and 17470.
For buying we need a 15 Min a candle close above 17700. Above that candle high we will buy for the target of 17750 and 17800. Above 17800 we can get another upside move. A good upside move will come only when trendline breaks in the 15 Min chart and daily candle close above previous day high.
In case of a gap up/down, mark the high and low of the trading range till 10 o'clock and on this range breakout.
Buy-Above 17700
Sl-17650
T-17750 17800 17850
Sell-Below 17620
Sl-17670
T-17560 17500
NIFTY has closed nearly 1% down today. Profit booking from 18000 is still on. After a good run
from 17000 to 18100. We are seeing a profit booking or the pullback of the up move. Index opened with a decent gap down due to global news. Our sell level was 17779, index just crashed from there. It was a good trade and hit our targets. The 10 o'clock range breakout gave small moves both the sides today.
Coming to tomorrow's trade setup, Index has closed at day low, below previous day low. Weakness continues. We planned at 18000 that if a daily candle closes below previous day low then we can plan for the reversal trade. yesterday it closed below previous day low and today we got a good move downside. So, if index open flat and 15 Min candle closes below 17620 then we will sell once again. Target will be 17560, 17500 and 17470.
For buying we need a 15 Min a candle close above 17700. Above that candle high we will buy for the target of 17750 and 17800. Above 17800 we can get another upside move. A good upside move will come only when trendline breaks in the 15 Min chart and daily candle close above previous day high.
In case of a gap up/down, mark the high and low of the trading range till 10 o'clock and on this range breakout.
