NIFTY Intraday Trade Setup For 2 Aug 2022
Buy-Above 17357
Sl-17300
T-17420 17520
Sell-Below 17250
Sl-17300
T-17155 17070
NIFTY has closed once again on a positive note with 1% gain. Last day we planned to long above 17175. It gave a perfect entry and hit our targets (17175-17355+). It was a smooth day, easy to ride. Its approaching 17500.
Coming to tomorrow's trade setup, if index opens flat a 5 Min candle closes above 17357(17360) we will long for the target of 17420, and 17500-20.
As of now there is no selling signal across all TF, be it 5 or 15 Min. Let a negative price action (LLLH) establish. However if a 5 min candle closes below 17250, we will short for the target of 17155 and 17070.
If market opens with a big gap up then we will avoid long positions.
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 17357
Sl-17300
T-17420 17520
Sell-Below 17250
Sl-17300
T-17155 17070
NIFTY has closed once again on a positive note with 1% gain. Last day we planned to long above 17175. It gave a perfect entry and hit our targets (17175-17355+). It was a smooth day, easy to ride. Its approaching 17500.
Coming to tomorrow's trade setup, if index opens flat a 5 Min candle closes above 17357(17360) we will long for the target of 17420, and 17500-20.
As of now there is no selling signal across all TF, be it 5 or 15 Min. Let a negative price action (LLLH) establish. However if a 5 min candle closes below 17250, we will short for the target of 17155 and 17070.
If market opens with a big gap up then we will avoid long positions.
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.
