NIFTY Intraday Trade Setup For 05 Aug 2022
Buy-Above 17410
Sl-17350
T-17490 17600
Sell-Below 17215
Sl-17270
T-17155 17100
NIFTY has closed flat and formed a hanging man on daily chart. It opened with a gap up near 17500 which was our 1st target in buy side. We already planned that we will trade on 10 o'clock range breakout in case of any gap up/down. 10 o'clock range broke downside below 17445 and gave a directional move till 17162. Tomorrow is RBI Credit policy so one should be very careful and safe traders should avoid trading tomorrow.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 17410 we will long for the target of 17490. Above 17500 we will hit 17600.
If a 15 Min candle closes below 17215 , we will short for the target of 17155 and 17100.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 17410
Sl-17350
T-17490 17600
Sell-Below 17215
Sl-17270
T-17155 17100
NIFTY has closed flat and formed a hanging man on daily chart. It opened with a gap up near 17500 which was our 1st target in buy side. We already planned that we will trade on 10 o'clock range breakout in case of any gap up/down. 10 o'clock range broke downside below 17445 and gave a directional move till 17162. Tomorrow is RBI Credit policy so one should be very careful and safe traders should avoid trading tomorrow.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 17410 we will long for the target of 17490. Above 17500 we will hit 17600.
If a 15 Min candle closes below 17215 , we will short for the target of 17155 and 17100.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
