NIFTY Intraday Trade Setup For 1 Jun 2022
Buy-Above 16700
Sl-16645
T-16800 16950
Sell-Below 16500
Sl-16560
T-16400 16300
NIFTY has formed an inside candle in daily TF, traded completely inside yesterday's trading session's high and low. Next move will come on this range breakout. Range is 16700 and 16500. We will trade on breakout either side. Initial target will be of 200 points.
Tomorrow's trading setup is simple, long if 16700 is broken on the higher side. Confirmation will be if a 15 Min candle closes above 16700. Above its high we will long for the target of 16800, 16900 and 16950.
If a 15 Min candle closes below range low i.e 16500 then we will short for the target of 16400 and 16300.
Probability of breaking downside is more. But no bias, we will simply trade where market gives breakout.
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.
Intraday Support-16275
Intraday Resistance-17000
Hourly Support-16100
Hourly Resistance- 17200
Buy-Above 16700
Sl-16645
T-16800 16950
Sell-Below 16500
Sl-16560
T-16400 16300
NIFTY has formed an inside candle in daily TF, traded completely inside yesterday's trading session's high and low. Next move will come on this range breakout. Range is 16700 and 16500. We will trade on breakout either side. Initial target will be of 200 points.
Tomorrow's trading setup is simple, long if 16700 is broken on the higher side. Confirmation will be if a 15 Min candle closes above 16700. Above its high we will long for the target of 16800, 16900 and 16950.
If a 15 Min candle closes below range low i.e 16500 then we will short for the target of 16400 and 16300.
Probability of breaking downside is more. But no bias, we will simply trade where market gives breakout.
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.
Intraday Support-16275
Intraday Resistance-17000
Hourly Support-16100
Hourly Resistance- 17200
