NIFTY Intraday Trade Setup For 2 Jun 2022
Buy-Above 16600
Sl-16540
T- 16680 16800
Sell-Below 16435
Sl-16485
T-16350 16275
NIFTY broke the last 2 day's range and closed 60 0.37% down. Last day we planned to sell below 16500. It gave a 60 points profit. However more room is left in the downside. Tomorrow is weekly expiry. So, we need to be cautious in any positions. Targets in the downside are 16350 and 16275. This will be achieved below today's low-16435.
Coming to tomorrow's trade, if index opens flat and a 15 Min candle closes below 16440, sell for the target of 16350 and 16275. Book max near 16200. This is a strong support zone.
For buying if a 15 Min candle closes above 16600. Long for the target near 16700. Above 16700 Index has enough room in the upside.
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.
Intraday Support- 16275,16200
Intraday Resistance-16700
Hourly Support- 16000-16100
Hourly Resistance- 17000
Buy-Above 16600
Sl-16540
T- 16680 16800
Sell-Below 16435
Sl-16485
T-16350 16275
NIFTY broke the last 2 day's range and closed 60 0.37% down. Last day we planned to sell below 16500. It gave a 60 points profit. However more room is left in the downside. Tomorrow is weekly expiry. So, we need to be cautious in any positions. Targets in the downside are 16350 and 16275. This will be achieved below today's low-16435.
Coming to tomorrow's trade, if index opens flat and a 15 Min candle closes below 16440, sell for the target of 16350 and 16275. Book max near 16200. This is a strong support zone.
For buying if a 15 Min candle closes above 16600. Long for the target near 16700. Above 16700 Index has enough room in the upside.
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.
Intraday Support- 16275,16200
Intraday Resistance-16700
Hourly Support- 16000-16100
Hourly Resistance- 17000
