NIFTY Intraday Trade Setup For 27 Jul 2022
Buy-Above 16575
Sl-16520
T-16635 16685
Sell-Below 16465
Sl-16525
T-16386 16315
NIFTY has closed on a negative sentiment with almost 0.9% cut. Last day we planned to sell below the daily spinning top candle as it indicated a trend reversal at top. We planned to sell below 16565, it got triggered @ 9:15 when 5 Min candle closed and hit our 1st target very smoothly. This gave a momentum from 16565 till 16465.
Coming to tomorrow's trade setup, if index flat and a 5 Min candle closes below 16465 we will short for the target of 16386 and 16315. Book max near 16300-16315.
If a 5 Min candle closes above 16575, we will long for the target of 16635-40 and 16685-90. Above 16685 it will test 16750 levels.
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 16575
Sl-16520
T-16635 16685
Sell-Below 16465
Sl-16525
T-16386 16315
NIFTY has closed on a negative sentiment with almost 0.9% cut. Last day we planned to sell below the daily spinning top candle as it indicated a trend reversal at top. We planned to sell below 16565, it got triggered @ 9:15 when 5 Min candle closed and hit our 1st target very smoothly. This gave a momentum from 16565 till 16465.
Coming to tomorrow's trade setup, if index flat and a 5 Min candle closes below 16465 we will short for the target of 16386 and 16315. Book max near 16300-16315.
If a 5 Min candle closes above 16575, we will long for the target of 16635-40 and 16685-90. Above 16685 it will test 16750 levels.
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.
