Nifty Trade Plan for 02 September 2021
On 1st sep, Nifty opened gap up and stayed above previous day high of 17142 making bullish move. It moved till 17229 during first 1 hour. However it could not sustain above that and long liquidation happened. Below are the trading plan for Nifty on 2nd Sep.
1. Now 17150 level will act as resistance. See price action near to that area. if this level is cleared and sustained, then next target is 17229. keep a SL of 20 points or exit if market comes down below 17140 level.
2. If opens below 17080, then Its a good opportunity to short with SL of 20 points for next logical target of 17020 which is VWAP of trend day of 31st August.
3. If Market goes below 17020 and sustains, then go short for target of 16950/16876.
Being expiry day, keep exposure low and go for 2/3 strikes OTM selling.
1. Now 17150 level will act as resistance. See price action near to that area. if this level is cleared and sustained, then next target is 17229. keep a SL of 20 points or exit if market comes down below 17140 level.
2. If opens below 17080, then Its a good opportunity to short with SL of 20 points for next logical target of 17020 which is VWAP of trend day of 31st August.
3. If Market goes below 17020 and sustains, then go short for target of 16950/16876.
Being expiry day, keep exposure low and go for 2/3 strikes OTM selling.
Comment:
How many got views right? Plan 1 worked.