NIFTY Intraday Trade Setup For 26 Jul 2022
Buy-Above 16685
Sl-16625
T-16750 16810 16900
Sell-Below 16565
Sl-16625
T-16490 16400 16320
NIFTY has formed a spinning top candle in daily TF. Which indicates indecision, that the current up move may take a pause or it can be a pause for bulls to take another round till 17000 and above. The range breakout(16750 and 16480) either side will decide that weather bulls have surrendered to bears or after some rest bulls will run till 17000 and above. High probability is in downside.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 16560-65 we will short for the target of 16490-16500. Below 16480 next round of selling will be triggered till 16400 and 16320.
If a 5 Min candle closes above 16685, we will long for the target of 16750. Above 16755 next target will be opened for 16800 and 16900.
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 16685
Sl-16625
T-16750 16810 16900
Sell-Below 16565
Sl-16625
T-16490 16400 16320
NIFTY has formed a spinning top candle in daily TF. Which indicates indecision, that the current up move may take a pause or it can be a pause for bulls to take another round till 17000 and above. The range breakout(16750 and 16480) either side will decide that weather bulls have surrendered to bears or after some rest bulls will run till 17000 and above. High probability is in downside.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 16560-65 we will short for the target of 16490-16500. Below 16480 next round of selling will be triggered till 16400 and 16320.
If a 5 Min candle closes above 16685, we will long for the target of 16750. Above 16755 next target will be opened for 16800 and 16900.
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.
