NIFTY
I have come up with a bit new way to present NIFTY trade setup.
Hope you like it. Please give your feedback.
Trade Setup for Date 20-09-2021:
All the Scenario are considering with Gap down opening on Monday, 20-09-2021.
Scenario-1
a. Gap Down opening between 17471-17500 range.
b. Faces resistance from 17500. Quick short trade with SL of 17533 and target of 17440-17400.
c. Gets support from 17400-17440 range. Quick buy trade with SL of 17370 and Target of 17500/17533.
d. Breakout of 17533 . Quick Buy Trade with Target of 15757. SL 17490
e. Holds and gives breakout of 17575.
f. After Sustainable breakout of 17575 Quick Buy trade with Target with Target of 17600 , 17622 , 17650. SL 17550.
Please refer below chart for Scenario-1
Scenario-2
a. Gap Down opening between 17471-17500 range.
b. Faces resistance from 17500. Quick short trade with SL of 17533 and target of 17440-17400.
c. Gets support from 17400-17440 range. Quick buy trade with SL of 17370 and Target of 17500/17533.
d. Breakout of 17533 . Quick Buy Trade with Target of 15757. SL 17490
e. Holds and couldn't give breakout of 17575 and faces resistance from it. Then it will be quick short trade till 17533, 17500, 17471.SL will be 17610.
Please refer below chart for Scenario-2
Scenario-3
a. Gap Down opening between 17471-17500 range.
b. Faces resistance from 17500. Quick short trade with SL of 17533 and target of 17440-17400.
c. Holds around 17400 level but couldn't break 17440. Then avoid any trade.
d. Faces resistance from 17440 but still in range of 17400-17440 then avoid trade.
e. Give sustainable Breakdown of 17400 then it will be quick short trade with target of 17350, then it faces resistance agains from 17367 then next target will be 17318. SL will be 17440.
Further it can also go till 17272. This will be ultimate target.
Please refer below chart for Scenario-3
Scenario-4
a. Gap Down opening between 17400-17440 range.
b. Faces resistance from 17470-75 range then it will be Quick short trade with SL of 17500 and Target of 17440-17400.
c. Book profit at 17400 and then it jumps to test the resistance at 17440.
d. Faces resistance at 17440. Do nothing.
e. Give sustainable Breakdown of 17400 then it will be quick short trade with target of 17350, then it faces resistance agains from 17367 then next target will be 17318. SL will be 17440.
Further it can also go till 17272. This will be ultimate target.
Please refer below chart for Scenario-4
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
