Nifty Intraday Trade Setup | 6th May

6 mag 2022

Nifty opened with a gap-up around 16825 and we saw strength in the morning which took Nifty to 16946 but that acted as a rejection zone and Nifty gave almost 300 points fall from day high.

Trades we took today -

> Bought Nifty 16800 PE 12th May at 190 which we booked at 208 with 18 points profit
> Bought Nifty 16800 PE 12th May again at 170 which we booked with 20 points loss
> Bought Nifty 16850 PE 12th May at 135, it went above our 1st Target of 155 and Traders booked profit
> Bought Nifty 16950 CE 12th May at 165 which we booked at 180 with 15 points profit
> Bought Nifty 16850 PE 12th May again at 170, it went above our Last Target of 214 and Traders booked profit

Overall, it was a great expiry day for Nifty Option Buyers.

Tomorrow, if the Nifty breaks 16600 on the downside, we expect to see another down move.

Expectations for Tomorrow: Volatile session.

Intraday Levels:
Buy Above - 16750
Sell Below - 16600

To motivate us, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team

8 mag 2022

Nota

Gap-down opening, no trade as per set-up.