Nifty Trade Plan Aug 3 Expiry

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Market opens flat –
Before 10 AM only condition
19545-566 , is the descending triangle and M pattern support retest zone, also is the 23.6% retracement level of the previous swing and there is a strong VWAP rejection with confirmation, hence if market opens flat, would be a good candidate to short at least till today’s low zone and run further based on price action.

Market opens gap down –
Wait for price action till 10:15 AM, then look for opportunities later based on the previous PA. Trade any down move/pullbacks based on setup confirmations better on consolidation moves. If takes support at today’s low region, can look for long till 19566 zone and then further up till 19636 zone and then TL resistance. If breaks down post consolidation , would go short.

Market opens gap up –
Wait for price action till 10:15 AM. Look for shorting opportunities at Trendline resistance / 19615-19645 zone, today’s gap zone

Long opportunities -
Will be keen on shorts, will go long only if opens flat, takes support at today’s low and moves up post 10 AM with a proper double / triple bottom at today’s low zone.

Will also go long if consolidates around 560 zone and then moves up, can ride the wave till the Trendline resistance / OBs upside. 619 – 636 target 1. 682-723 Target 2. May be till Trendline resistance too.

Will also go long if consolidates and break the TL resistance.
All of the above setups only on consolidation price action post 10:15 AM.
ノート
Trade Plan executed as per the plan, details at
Nifty Trade Idea Aug 3 expiry
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