Intraday Trade Setup | NIFTY | 27-06-2022 | DIFFERENT SCENARIOS

Jun 25, 2022

NIFTY

Observations:
1) On weekly time frame, we can see that Nifty has bounced from 100EMA.

Please refer below chart : 1 week time frame.




Trade Setup for 24-06-2022

Since, as of now SGX Nifty is showing Gap up then we can plan below scenarios.

Scenario -1:

Nifty open above 15850 and goes down and takes support from 15775 range and bounce from there, at that time one can take quick buy trade from 15775 aiming for max target at 15850 and then once it gives sustainable breakout of 15850 then take another buy trade and aim for 15960 , 16010 , 16084 [ultimate Level] and bonus level 16150-166 range.

Please refer below chart : 15min time frame.



Scenario -2:
Nifty open above 15850 and goes down and faces resistance from 15815 range and/or 15775 then at that time one can take quick sell trade aiming for max target at 15680 range. And once it makes price action above this 15680 zone and bounce then enter in to buy trade with targets of 15775. 15815 , 15850 , 15920 and above all bonus levels.

Please refer below chart : 15min time frame.


Scenario -3:
This is with bearish sentiment.

Nifty open above 15850 and goes down and faces resistance from 15815 range and/or 15775 then at that time one can take quick sell trade aiming for max target at 15680 range. And even after that it make price action but below this 15680 zone and face resistance to go up then enter in to sell trade again with strict SL and targets of 15620-25 range, 15858 , 15540 [ultimate] and 15500[bonus level]

Please refer below chart : 15min time frame.


Scenario -4:
This will be a bit considering both bullish and bearish sentiment.

Nifty open above 15850 and goes down and takes support from 15775 range and bounce from there, at that time one can take quick buy trade from 15775 aiming for max target at 15850 and then once it gives sustainable breakout of 15850 then take another buy trade and aim for 15960 , 16010 , 16084 [ultimate Level] and bonus level 16150-166 range. And now if it face resistance from 16010 or 15960 any of above level then take counter sell trade with strict SL and aim for all below levels.

You can refer all the levels now on below chart for your easy reference and as an intraday trader you can just play between these levels with the help of price action to take trades on both the sides.

Please refer below chart : 15min time frame.


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Please refer below chart for levels.




Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.