NIFTY Intraday Trade Setup For 25 May 2022
Buy-Above 16265
Sl-16210
T-16350 16400
Sell-Below 16100
Sl-16160
T-15970 15850
NIFTY has closed 0.5% down today. Last day we planned to sell below 16200. It gave a move till our 1st target 16100-20. After that index was sideways with dirty swings to manage premiums both in Options and in Futures. This is likely to happen till the range shifts in hourly TF. Upper range is 16400 and lower range is 15700.
Coming to tomorrow's trade setup, we will once again sell on continuation. if a 15 min candle closes below 16100. then short for the target of 15970. After a bounce from this region, the next time it breaks the lows it will head towards 15850.
For buying we need a candle close above 16260.Above its high long for the target of 16350 and 16400. Above 16400 a short covering move will come.
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.
Intraday Support- 15970
Intraday Resistance- 16350-16400
Hourly Support- 15700
Hourly Resistance- 16400
Buy-Above 16265
Sl-16210
T-16350 16400
Sell-Below 16100
Sl-16160
T-15970 15850
NIFTY has closed 0.5% down today. Last day we planned to sell below 16200. It gave a move till our 1st target 16100-20. After that index was sideways with dirty swings to manage premiums both in Options and in Futures. This is likely to happen till the range shifts in hourly TF. Upper range is 16400 and lower range is 15700.
Coming to tomorrow's trade setup, we will once again sell on continuation. if a 15 min candle closes below 16100. then short for the target of 15970. After a bounce from this region, the next time it breaks the lows it will head towards 15850.
For buying we need a candle close above 16260.Above its high long for the target of 16350 and 16400. Above 16400 a short covering move will come.
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.
Intraday Support- 15970
Intraday Resistance- 16350-16400
Hourly Support- 15700
Hourly Resistance- 16400
