NIFTY Intraday Trade Setup For 11 Apr 2022
Buy-Above 17850
Sl-17800
T-17900 17950
Sell-Below 17600
Sl-17650
T-17550 17500
NIFTY closed in a positive note on Friday after 3 consecutive days of profit booking. Index made a base at 17600 and headed towards Thursday high. Index has made a doji candle in weekly TF. This candle shows a profit booking after a good run. It is a reversal cum trend pause candle. Below doji candle's low, it can show downside move. 17600 is the low of the doji candle. So 17600 will be important in the next week. A good run in the upside will come only above the candle high i.e 18120.
Weekly range is 17600 and 18120.
Coming to Monday's trade setup, we will buy above 17850 if a 15 Min candle closes above this. Target will be 17900,17960 and 18000. This trade will be best on a flat opening. We can't expect big targets till index is between 18150 and 17600.
For selling we have to wait till 17600 is breached and sustained. We need a 15 Min candle close below 17600. Target will be 17510 17470 and 17400. An aggressive short trade can be done below 17700 if a 15 Min candle close below it. Target will be near range low 17630-17600.
In case of of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range till 10 o'clock. Trade on this range breakout.
Buy-Above 17850
Sl-17800
T-17900 17950
Sell-Below 17600
Sl-17650
T-17550 17500
NIFTY closed in a positive note on Friday after 3 consecutive days of profit booking. Index made a base at 17600 and headed towards Thursday high. Index has made a doji candle in weekly TF. This candle shows a profit booking after a good run. It is a reversal cum trend pause candle. Below doji candle's low, it can show downside move. 17600 is the low of the doji candle. So 17600 will be important in the next week. A good run in the upside will come only above the candle high i.e 18120.
Weekly range is 17600 and 18120.
Coming to Monday's trade setup, we will buy above 17850 if a 15 Min candle closes above this. Target will be 17900,17960 and 18000. This trade will be best on a flat opening. We can't expect big targets till index is between 18150 and 17600.
For selling we have to wait till 17600 is breached and sustained. We need a 15 Min candle close below 17600. Target will be 17510 17470 and 17400. An aggressive short trade can be done below 17700 if a 15 Min candle close below it. Target will be near range low 17630-17600.
In case of of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range till 10 o'clock. Trade on this range breakout.
