NIFTY Intraday Trade Setup For 4 Apr 2022
Buy-Above 17710
Sl-17650
T-17800 17885
Sell-None
NIFTY has broken and sustained 17500 on the last trading session. Index was struggling to close above the psychological resistance 17500 since last 2 days. The bullish sentiment is on after 17000. Index is buy on dip till 18000 for a short term. As 18000 is the target after 17000.
Coming to Monday's trade setup, We will loo for buying opportunity 1st. Index has given a strong closing near 17700. So if index opens flat and crosses 17710 then we will long for the target of 17785-17800. 2nd target will be 17885-17900.
For selling one should wait till 17500 is breached and a negative price action is established. Aggressive trader can short below 17550 for the target of 17500 and 17450.
In case of a big gap up/down, wait till 10 o'clock. Mark the high and low of the 10 o'clock range and trade the breakout of the range.
Incase of a big gap up, if we find a reversal/negative candle in the 1st 5 Min, then short below that candle. Target will be near Friday's closing.
If we open gap down, near 17550-60 then we will buy if we find a bullish candle/ bullish reversal candle. Sl will low of the reversal candle.
Reposted this as there was typo error in date.
Buy-Above 17710
Sl-17650
T-17800 17885
Sell-None
NIFTY has broken and sustained 17500 on the last trading session. Index was struggling to close above the psychological resistance 17500 since last 2 days. The bullish sentiment is on after 17000. Index is buy on dip till 18000 for a short term. As 18000 is the target after 17000.
Coming to Monday's trade setup, We will loo for buying opportunity 1st. Index has given a strong closing near 17700. So if index opens flat and crosses 17710 then we will long for the target of 17785-17800. 2nd target will be 17885-17900.
For selling one should wait till 17500 is breached and a negative price action is established. Aggressive trader can short below 17550 for the target of 17500 and 17450.
In case of a big gap up/down, wait till 10 o'clock. Mark the high and low of the 10 o'clock range and trade the breakout of the range.
Incase of a big gap up, if we find a reversal/negative candle in the 1st 5 Min, then short below that candle. Target will be near Friday's closing.
If we open gap down, near 17550-60 then we will buy if we find a bullish candle/ bullish reversal candle. Sl will low of the reversal candle.
Reposted this as there was typo error in date.
