NIFTY Intraday Trade Setup For 6 Jul 2022
Sell_1- 15980
Sl-16030
T-15900 15800
Sell_2- Below 15780
Sl-15840
T-15700 15600
Buy-Above 16030
Sl-15980
T-16100 16200
NIFTY has made a shooting star candle in daily TF. It failed to close/sustain above 15950(Daily Resistance). Last day we planned to buy above 15855. But it opened with 0.5% gap up and a 5 Min candle closed above 15950 and gave a move till 16025. Then from the psychological resistance- 16000 it crashed till 15780 and closed at day low.
Coming to tomorrow's trade setup, if index opens flat we will sell below 15785 for the target of 15700 and 15600.
In case we see a gap up and 15980 is tested in the 1st one hour then we will short from there with PDH as sl for the target of 15900 and 15800.
In case a 15 Min candle closes above 16030 then we will long for the target of 16100 and 16200.
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.
Sell_1- 15980
Sl-16030
T-15900 15800
Sell_2- Below 15780
Sl-15840
T-15700 15600
Buy-Above 16030
Sl-15980
T-16100 16200
NIFTY has made a shooting star candle in daily TF. It failed to close/sustain above 15950(Daily Resistance). Last day we planned to buy above 15855. But it opened with 0.5% gap up and a 5 Min candle closed above 15950 and gave a move till 16025. Then from the psychological resistance- 16000 it crashed till 15780 and closed at day low.
Coming to tomorrow's trade setup, if index opens flat we will sell below 15785 for the target of 15700 and 15600.
In case we see a gap up and 15980 is tested in the 1st one hour then we will short from there with PDH as sl for the target of 15900 and 15800.
In case a 15 Min candle closes above 16030 then we will long for the target of 16100 and 16200.
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.
