NIFTY Intraday Trade Setup For 6 Sep 2022
Buy-Above 17685
Sl-17630
T-17557 17837 17918
Sell-Below 17618
Sl-17670
T-17563 17518 17470
NIFTY has closed on a positive note with 0.7% gain. NIFTY is still inside the mother candle's range. Move is still pending either side. Last day we planned to buy above 17625, it was triggered and gave more than 55 points which was 1:1. This upside momentum is likely to continue above today's high. It is still in a zone in daily and hourly TF. Moderate/sharp selling will come below 17500 on closing bassis.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 17685 then we will long for the target of 17757-60, 17835 and 17920.
Index is not in selling mode as of now. However aggressive traders can short below 17618 if a 15 Min candle closes for the target of 17563, 17518 and 17470.
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 17685
Sl-17630
T-17557 17837 17918
Sell-Below 17618
Sl-17670
T-17563 17518 17470
NIFTY has closed on a positive note with 0.7% gain. NIFTY is still inside the mother candle's range. Move is still pending either side. Last day we planned to buy above 17625, it was triggered and gave more than 55 points which was 1:1. This upside momentum is likely to continue above today's high. It is still in a zone in daily and hourly TF. Moderate/sharp selling will come below 17500 on closing bassis.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 17685 then we will long for the target of 17757-60, 17835 and 17920.
Index is not in selling mode as of now. However aggressive traders can short below 17618 if a 15 Min candle closes for the target of 17563, 17518 and 17470.
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.
