Nifty Intraday Trade Setup | 7th March

6 Mar 2022

Nifty opened with a gap-down at 16362 and we saw selling since open which bought Nifty at 16100 zones and we saw great bounce towards 16456 from lower levels. We again saw the rejection from upper levels and Nifty fell 200 points from day high.

Trades we took Today:

> Bought Nifty 16300 PE at 280, it went above our 1st Target 300 and Traders booked profit in this Trade
> Bought Nifty 16400 CE at 190 which we booked with 5 points loss

Overall it was an average day.

Tomorrow, if Nifty sustains below 16100 we may have a follow-up down move towards 16000 but as it's psychological support so be cautious in that zone.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above - 16320
Sell Below - 16100

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

Happy Trading!
InvestPro India Team

7 Mar 2022

Not

Big gap-down opening, no trade as per set-up.