NIFTY Intraday Trade Setup For 11 Mar 2022
NIFTY Intraday Trade Setup For 11 Mar 2022
Buy-Above 16630
Sl-16580
T-16720 16800
Sell-Below 16450
Sl-16500
T-16350 16270
NIFTY opened with a very big gap up on Thursday because of the global market short covering move. We planned to wait for the 10 o'clock range in case of any big gap up/down. The 1st 1 Min candle was the 10 o'clock range today. Index made a double top along with BANKNIFTY and when neckline of 16695 was broken index fell till 16448. In that flow the 10 o'clock range was broke below 16590. It was a good day for us.
Coming to tomorrow's trade setup. we will use the last 1 hour range to build our trade. For this index has to open flat.
Above 16630 we will build our long for the target of 16720 and 16800.There is a hourly trendline being followed since 18 Jan. That will be our target. Also 16800 can act as resistance. Above this a short covering will come.
For selling if a 15 candle closes below 16490 then below 16450 we will build our short targeting 16350 and 16270.
In case of any big gap up/down, use 10 o'clock range and trade that range breakout/breakdown.
Buy-Above 16630
Sl-16580
T-16720 16800
Sell-Below 16450
Sl-16500
T-16350 16270
NIFTY opened with a very big gap up on Thursday because of the global market short covering move. We planned to wait for the 10 o'clock range in case of any big gap up/down. The 1st 1 Min candle was the 10 o'clock range today. Index made a double top along with BANKNIFTY and when neckline of 16695 was broken index fell till 16448. In that flow the 10 o'clock range was broke below 16590. It was a good day for us.
Coming to tomorrow's trade setup. we will use the last 1 hour range to build our trade. For this index has to open flat.
Above 16630 we will build our long for the target of 16720 and 16800.There is a hourly trendline being followed since 18 Jan. That will be our target. Also 16800 can act as resistance. Above this a short covering will come.
For selling if a 15 candle closes below 16490 then below 16450 we will build our short targeting 16350 and 16270.
In case of any big gap up/down, use 10 o'clock range and trade that range breakout/breakdown.
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