NIFTY Intraday Trade Setup For 8 Jul 2022
Buy-Above 16150
Sl-16100
T-16200 16250 16300
Sell-Below 16050
Sl-16100
T-15990 15900
NIFTY has closed 0.9% up today. Max gain came from gap up opening. It just consolidated between 10 o'clock trading range(16150-16050). No breakout was seen either side. Tomorrow's trade setup will be based on today's high and low respectively.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 16150 we will long for the target of 16200, 16250 and 16300. 16300-16320 can act as resistance.
Similarly if a 15 Min candle closes below 16050, we will short for the target of 15990 and 15900.
In case of a big gap up near 16300 we will plan for sell below 1st 5 min candle's low.
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- 16300-20
Intraday Support- 15900-20
Buy-Above 16150
Sl-16100
T-16200 16250 16300
Sell-Below 16050
Sl-16100
T-15990 15900
NIFTY has closed 0.9% up today. Max gain came from gap up opening. It just consolidated between 10 o'clock trading range(16150-16050). No breakout was seen either side. Tomorrow's trade setup will be based on today's high and low respectively.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 16150 we will long for the target of 16200, 16250 and 16300. 16300-16320 can act as resistance.
Similarly if a 15 Min candle closes below 16050, we will short for the target of 15990 and 15900.
In case of a big gap up near 16300 we will plan for sell below 1st 5 min candle's low.
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- 16300-20
Intraday Support- 15900-20
