NIFTY Intraday Trade Setup For 17 Jun 2022
Sell_1- From 15660
Sl-15700
T-15500 15400
Sell-Below 15330
Sl-15390
T-15200 15100
NIFTY has formed a big red candle which broke the weekly support. Possibility of this downside move can be extended till 14400 in the coming weeks. It opened with a decent gap and broke 10 o'clock range below 15764 and gave a downside move till 15335.
Now coming to tomorrow's analysis, if index opens above 15500 or with a decent gap up then probability of an inside candle is high. So short from 15650-16660 for the target of 15500 and 15400 and below.
In case it opens below flat then its for selling. On a 5 min candle close below 15535 and short for the target of 15200, 15100 and 15000.
Avoid long positions while aggressive traders can long above 15500 if a bullish candle forms here in 5 Min TF.
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 Resistance- 15660
Hourly Resistance- 15900
Sell_1- From 15660
Sl-15700
T-15500 15400
Sell-Below 15330
Sl-15390
T-15200 15100
NIFTY has formed a big red candle which broke the weekly support. Possibility of this downside move can be extended till 14400 in the coming weeks. It opened with a decent gap and broke 10 o'clock range below 15764 and gave a downside move till 15335.
Now coming to tomorrow's analysis, if index opens above 15500 or with a decent gap up then probability of an inside candle is high. So short from 15650-16660 for the target of 15500 and 15400 and below.
In case it opens below flat then its for selling. On a 5 min candle close below 15535 and short for the target of 15200, 15100 and 15000.
Avoid long positions while aggressive traders can long above 15500 if a bullish candle forms here in 5 Min TF.
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 Resistance- 15660
Hourly Resistance- 15900
