Nifty Index Intraday Trend Analysis for 20-07-2022
NIFTY
As per current global clues while publishing this idea... it is expected that markets are going to open at 16400 & above levels , As markets are moving up without a single day of correction since 15900 levels i am expecting some correction to kick in if we open close or around sellers zone . Hence today the trade plan is to book profits for longs on nifty on upside and wait for more clarity i,e let nifty close and stay above 16500 levels for this weekend . This may be a weekly expiry trap for all option writers who are struck badly around 16000-16200 range.
For Intraday Trade Setup :
Scenario 1 :
Plan is to Short Sell Nifty around 16450 levels with a weak bar break from above 16450. Stop loss shall be around 16480 post entry , No Buying for the day on Nifty unless we come close to Buyers Zone or Support zone.
Scenario 2 :
If we open weak and around Buyers zone (16290-16300 range) we will Long the market for uptrend towards resistance & sellers zone , Stop Loss for Longs should be around 16250 levels .
Do Comment , share and "LIKE" if you find this info valuable to use . Believe me it takes lot of time to visualize the market before the opening bell :)
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and your losses arising of above shared info
NIFTY
As per current global clues while publishing this idea... it is expected that markets are going to open at 16400 & above levels , As markets are moving up without a single day of correction since 15900 levels i am expecting some correction to kick in if we open close or around sellers zone . Hence today the trade plan is to book profits for longs on nifty on upside and wait for more clarity i,e let nifty close and stay above 16500 levels for this weekend . This may be a weekly expiry trap for all option writers who are struck badly around 16000-16200 range.
For Intraday Trade Setup :
Scenario 1 :
Plan is to Short Sell Nifty around 16450 levels with a weak bar break from above 16450. Stop loss shall be around 16480 post entry , No Buying for the day on Nifty unless we come close to Buyers Zone or Support zone.
Scenario 2 :
If we open weak and around Buyers zone (16290-16300 range) we will Long the market for uptrend towards resistance & sellers zone , Stop Loss for Longs should be around 16250 levels .
Do Comment , share and "LIKE" if you find this info valuable to use . Believe me it takes lot of time to visualize the market before the opening bell :)
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and your losses arising of above shared info
Comment:
SGX NIFTY indicating significant higher opening above 16540 levels . we will wait for Nifty Index to move below 16450 to short as planned . No buying for the day :) on index related instruments .
