Scenario 1: Gap Up Opening (Above 22350)
If NIFTY opens with a gap up above 22350, watch for potential resistance near 22390. A rejection at this level could lead to a drop below 22340. Consider a short entry if prices start trading below 22340 with a stop loss at 22400. Targets for this downside move are 22245 – 22178. Expect a bounce within this range. However, sustained trading above 22390 could push prices higher towards 22445 – 22470 and potentially 22517 if above 22480.
Scenario 2: Flat Opening
In case of a flat opening, anticipate a drop towards 22245 – 22200 – 22178 levels. If prices recover and start trading above 22245, consider a buy trade with a stop loss at 22200. Upside targets would then be 22350 – 22390 – 22445. Conversely, if prices break below 22178 and sustain below 22160, expect a decline towards 22000 – 21950 – 21937.
Scenario 3: Gap Down Opening (Below 22200)
For a gap down opening below 22200, look for buying opportunities near 22180 with a stop loss at 22150. Targets for this upside move would be 22250 – 22350 – 22390. However, if prices fail to hold 22150, anticipate a drop towards 22000 – 21937.
Conclusion for NIFTY:
Keep a close eye on key levels and trade cautiously based on price action. Adapt strategies according to how prices behave around critical support and resistance levels.
Disclaimer:
Trading involves risk and these are speculative predictions. It's advisable to use these levels as a reference alongside your own analysis and risk management strategy.
If NIFTY opens with a gap up above 22350, watch for potential resistance near 22390. A rejection at this level could lead to a drop below 22340. Consider a short entry if prices start trading below 22340 with a stop loss at 22400. Targets for this downside move are 22245 – 22178. Expect a bounce within this range. However, sustained trading above 22390 could push prices higher towards 22445 – 22470 and potentially 22517 if above 22480.
Scenario 2: Flat Opening
In case of a flat opening, anticipate a drop towards 22245 – 22200 – 22178 levels. If prices recover and start trading above 22245, consider a buy trade with a stop loss at 22200. Upside targets would then be 22350 – 22390 – 22445. Conversely, if prices break below 22178 and sustain below 22160, expect a decline towards 22000 – 21950 – 21937.
Scenario 3: Gap Down Opening (Below 22200)
For a gap down opening below 22200, look for buying opportunities near 22180 with a stop loss at 22150. Targets for this upside move would be 22250 – 22350 – 22390. However, if prices fail to hold 22150, anticipate a drop towards 22000 – 21937.
Conclusion for NIFTY:
Keep a close eye on key levels and trade cautiously based on price action. Adapt strategies according to how prices behave around critical support and resistance levels.
Disclaimer:
Trading involves risk and these are speculative predictions. It's advisable to use these levels as a reference alongside your own analysis and risk management strategy.