NIFTY Intraday Trade Setup For 28 Jul 2022
Buy-Above 16655
Sl-16600
T-16710 16750
Sell-Below 16575
Sl-15630
T-16510 16450
NIFTY has closed on a positive note with almost 1% gain today. Last we planned to sell below 16465. 60 points sl was hit in this trade. Later our buy level was triggered @ 16575 and this trade gave 75 points profit. Tomorrow we are likely to open with a big gap up/down after the FOMC outcome today night. However broader range is 16755 and 16435. Directional move is expected above and below the range.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 16655, we will long for the target of 16710 and 16750. Above 16755 if it sustains then we will hit 16810 and 16900.
In case a 5 Min candle closes below 16575, we will short for the target of 16510 and 16450. Below 16435 if it sustains we will hit 16375, 16300 and below.
Chances of a big gap up and gap down is high tomorrow after FOMC meeting. We will simply wait for the 1st 45 Min and mark the high and low of the trading range and trade directional above and below the high and low of the 45 Min range.
Buy-Above 16655
Sl-16600
T-16710 16750
Sell-Below 16575
Sl-15630
T-16510 16450
NIFTY has closed on a positive note with almost 1% gain today. Last we planned to sell below 16465. 60 points sl was hit in this trade. Later our buy level was triggered @ 16575 and this trade gave 75 points profit. Tomorrow we are likely to open with a big gap up/down after the FOMC outcome today night. However broader range is 16755 and 16435. Directional move is expected above and below the range.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 16655, we will long for the target of 16710 and 16750. Above 16755 if it sustains then we will hit 16810 and 16900.
In case a 5 Min candle closes below 16575, we will short for the target of 16510 and 16450. Below 16435 if it sustains we will hit 16375, 16300 and below.
Chances of a big gap up and gap down is high tomorrow after FOMC meeting. We will simply wait for the 1st 45 Min and mark the high and low of the trading range and trade directional above and below the high and low of the 45 Min range.
