NIFTY Intraday Trade Setup For 29 Aug 2022
Buy-Above 17635
Sl-17575
T- 17720 17820
Sell- Below 17487
Sl-17540
T-17420 17350
NIFTY has made an inside candle on Friday and closed almost flat with slight gain. After the shooting star candle was formed on weekly charts and was triggered (17710) till then index has been in a decline phase and closed @ 17558.9. Traders can trail sl to cost as a bullish momentum can be triggered above 17730 till recent swing high of 17990 -18080. Selling pressure will resume below 17485.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below the mother candle's low- 17487 then we will short for the target of 17410-20, and 17350.
For buying we need a 15 Min candle close above 17636. Upside target will ne near 17720. Above 17730 we will hit 17920.
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 17635
Sl-17575
T- 17720 17820
Sell- Below 17487
Sl-17540
T-17420 17350
NIFTY has made an inside candle on Friday and closed almost flat with slight gain. After the shooting star candle was formed on weekly charts and was triggered (17710) till then index has been in a decline phase and closed @ 17558.9. Traders can trail sl to cost as a bullish momentum can be triggered above 17730 till recent swing high of 17990 -18080. Selling pressure will resume below 17485.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below the mother candle's low- 17487 then we will short for the target of 17410-20, and 17350.
For buying we need a 15 Min candle close above 17636. Upside target will ne near 17720. Above 17730 we will hit 17920.
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.
