NIFTY Intraday Trade Setup For 03 Oct 2022
NIFTY Intraday Trade Setup For 3 Oct 2022
Buy-Above 17200
Sl-17150
T- 17300 17473
Sell-Below 17060
Sl-17110
T- 16910 16750
NIFTY has closed on a positive note on Friday and formed a bullish engulfing candle in daily TF. Our TSl in shorts (triggered on 23 Sep) hit on Friday as per our plan (Last swing high in 15 TF). Trade gave more than 650 points gain(17400-16750).
Now index has formed a range in hourly TF- 17200 and 16740. Breakout of this range will give us the next directional move. Initial expected move can be of 450-500 points.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 17197 then we will long for the target of 17321 and 17473.
For selling we need a 15 Min candle closes below 17060. This will be considered only when there is range formed above 17060 for more than 30 Min or a pullback is needed before breakdown. Target will be 16710 and 16750.
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 17200
Sl-17150
T- 17300 17473
Sell-Below 17060
Sl-17110
T- 16910 16750
NIFTY has closed on a positive note on Friday and formed a bullish engulfing candle in daily TF. Our TSl in shorts (triggered on 23 Sep) hit on Friday as per our plan (Last swing high in 15 TF). Trade gave more than 650 points gain(17400-16750).
Now index has formed a range in hourly TF- 17200 and 16740. Breakout of this range will give us the next directional move. Initial expected move can be of 450-500 points.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 17197 then we will long for the target of 17321 and 17473.
For selling we need a 15 Min candle closes below 17060. This will be considered only when there is range formed above 17060 for more than 30 Min or a pullback is needed before breakdown. Target will be 16710 and 16750.
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.
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