Nifty 16000 ? - Weekly Analysis and Trade Setup for 17 Oct 2022
Nifty Intraday levels for Monday and Weekly analysis..
Global Markets are down by more than 1 %. We can expect Gap down Open in Nifty .
Expectation : Big Gap down Open - Bearish Continuation
Nifty likely to Open with Big Gap down on Monday around 17000 - 17100 mark below Strong SELL Level. Any breakout below / Opens below we can expect Target 1 & 2 levels will be tested. Uptrend possible only above 17285 till then sell on raise in Nifty.
Strong support zone found at 16800, incase if this is compromised Nifty will fall and probably 16000 will be tested in few days.
For quick scalping, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Global Markets are down by more than 1 %. We can expect Gap down Open in Nifty .
Expectation : Big Gap down Open - Bearish Continuation
Nifty likely to Open with Big Gap down on Monday around 17000 - 17100 mark below Strong SELL Level. Any breakout below / Opens below we can expect Target 1 & 2 levels will be tested. Uptrend possible only above 17285 till then sell on raise in Nifty.
Strong support zone found at 16800, incase if this is compromised Nifty will fall and probably 16000 will be tested in few days.
For quick scalping, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
