NIFTY Intraday Trade Setup For 6 Apr 2022
Buy-Above 18120
Sl-18070
T-18220 18350
Sell-Below 17880
Sl-17930
T-17800 17700
NIFTY has made a small inside candle today. Traded inside yesterday's trading range. After a week today is the day where previous high is not breached. Index is likely to take pause after a non-stop rally. Option sellers enjoyed 18000 short straddle. Index has closed below 18000 today. We can expect some kind of retracement of this current upside move. We planned a aggressive sell trade below 17970 on 15 Min candle close. It was triggered in the last 30 Min.
Coming to tomorrow's trade setup, we will sell below 17900 if a 15 Min candle close below that and its low is crossed. This trade will be planned if index consolidates above our sell level for 15-30 Min . Then if range breaks lower side. We will short otherwise we will ignore. Also candle close is important. Target will be 17790. Below 17790 index will fill the gap and test our PRZ level 17700. Book max here. But if this is breached after a bounce then index will show another down move till 17600.
For buying we need to wait till High of 18120 is sustained. We need a 15 Min candle close above 18120 to initiate our buy trade. Target will be 18220 and 18350.This trade will be best if index consolidates in a range before our buy level is triggered.
In case of a gap up/down, mark the 10 o'clock trading range and trade the range breakout.
Buy-Above 18120
Sl-18070
T-18220 18350
Sell-Below 17880
Sl-17930
T-17800 17700
NIFTY has made a small inside candle today. Traded inside yesterday's trading range. After a week today is the day where previous high is not breached. Index is likely to take pause after a non-stop rally. Option sellers enjoyed 18000 short straddle. Index has closed below 18000 today. We can expect some kind of retracement of this current upside move. We planned a aggressive sell trade below 17970 on 15 Min candle close. It was triggered in the last 30 Min.
Coming to tomorrow's trade setup, we will sell below 17900 if a 15 Min candle close below that and its low is crossed. This trade will be planned if index consolidates above our sell level for 15-30 Min . Then if range breaks lower side. We will short otherwise we will ignore. Also candle close is important. Target will be 17790. Below 17790 index will fill the gap and test our PRZ level 17700. Book max here. But if this is breached after a bounce then index will show another down move till 17600.
For buying we need to wait till High of 18120 is sustained. We need a 15 Min candle close above 18120 to initiate our buy trade. Target will be 18220 and 18350.This trade will be best if index consolidates in a range before our buy level is triggered.
In case of a gap up/down, mark the 10 o'clock trading range and trade the range breakout.
