NIFTY has closed at day high once again. It has closed with 1% gain. The weekly range of 17450 was broken with a gap up. Index has closed near 17500. We planned to buy above 17350 but it was invalid due to the big gap up. However the 10 o'clock range breakout gave a move above 17460-17510+. After testing 17500 index lost its momentum.
Coming to tomorrow's Monthly expiry trade, we will once again buy this continuation but if opens flat. So, above today's high 17522 if a 15 min candle closes then we will buy above 17530 for the target of 17590 and 17640. Final target will be 17700.
For selling index has to make a negative price action in 15 min chart. Till now it is making higher high only. If a 15 Min candle close below 17400 then we will sell for the target of 17340 and 17270. Final target will be 17200. Momentum will come below 17380.
In case of a big gap up/down the above plan of action will be invalid and we have to wait till 10 o'clock range breakout/down.
Tomorrow is Monthly expiry, volatility will be high.