NIFTY Intraday Trade Setup For 11 Jul 2022

NIFTY Intraday Trade Setup For 11 Jul 2022

Buy-Above 16240
Sl-16190
T-16300 16400

Sell-Below 16160
Sl-16200
T-16100 16050

NIFTY has closed with 0.5% gain on Friday. Swing got triggered on 6 Jul last week. We expected NIFTY to touch 16600 above 15930. So index has given more than 2% move till now. Index has made small range on Friday's session. We will simply initiate a trade above and below the range high and low respectively.

Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 16240. We will long for the target of 16300 and 16400.

For selling if a 5/15 Min candle closes below 16160. We will short for the target of 16100 and 16050.

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- 16000
Intraday Resistance- 16305