NIFTY Intraday Trade Setup For 26 May 2022
Buy-Above 16100
Sl-16160
T-16160 16260 16360
Sell-Below 16000
Sl-16050
T-15900 15850 15800
NIFTY continued the downtrend for the 3rd consecutive day. Last day we planned to sell below 17100 for the target of 16000. It opened with a gap up, the 10 o'clock range broke downside below 16120. In this continuation it broke 16100 and headed straight towards 16000.
Coming to tomorrow's trade setup- index has closed at 16000, an important support. If index opens flat and slides below 16000. Short for the target of 15900 and 15850. Book max near 15800-50, PRZ placed in this region.
For buying if a 5/15 candle closes above 16100 then above its high long for the target of 16160 and 16260. Book max near 16260-70.
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- 15845
Intraday Resistance- 16270
Hourly Support- 15700
Hourly resistance- 16400
Buy-Above 16100
Sl-16160
T-16160 16260 16360
Sell-Below 16000
Sl-16050
T-15900 15850 15800
NIFTY continued the downtrend for the 3rd consecutive day. Last day we planned to sell below 17100 for the target of 16000. It opened with a gap up, the 10 o'clock range broke downside below 16120. In this continuation it broke 16100 and headed straight towards 16000.
Coming to tomorrow's trade setup- index has closed at 16000, an important support. If index opens flat and slides below 16000. Short for the target of 15900 and 15850. Book max near 15800-50, PRZ placed in this region.
For buying if a 5/15 candle closes above 16100 then above its high long for the target of 16160 and 16260. Book max near 16260-70.
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- 15845
Intraday Resistance- 16270
Hourly Support- 15700
Hourly resistance- 16400
