Nifty Trade Plan for 31 JAN 2022
Expect Nifty to open gap up around the upper CPR Band.
Expect market to be volatile ahead of the budget hence need to trade with more caution and reduced position sizing.
For safe trade i would wait for first 15 min to watch out if R1 Resistance is taken to confirm bullishness and initiate a long on break out of 15 min high to Target 1 / Target 2.
Any resistance confirmation around R1 or Target 2, we can possibly look for Shorting opportunity with target of CPR / Previous day closing.
Expect Nifty to open gap up around the upper CPR Band.
Expect market to be volatile ahead of the budget hence need to trade with more caution and reduced position sizing.
For safe trade i would wait for first 15 min to watch out if R1 Resistance is taken to confirm bullishness and initiate a long on break out of 15 min high to Target 1 / Target 2.
Any resistance confirmation around R1 or Target 2, we can possibly look for Shorting opportunity with target of CPR / Previous day closing.