Gap Up Opening
If NIFTY opens with a gap above 23050, prices are likely to find support at 23000, targeting levels between 23100 and 23142. However, if prices do not sustain this level and the first-hour candle closes below 22920, consider short trades targeting 22800 to 22750.
Flat Opening
In the case of a flat opening, prices may move upwards after finding support at 22915-22897, potentially reaching 23000 to 23059. Failure to hold support at 22880 may lead to a drop towards 22800.
Gap Down Opening
If NIFTY opens with a gap below 22980 and stays below 22880 during the first trading hour, expect a decline towards 22800. Conversely, a quick recovery above 22915 would indicate a target range of 23000 to 23059.
Conclusion
Monitor the opening and first-hour candle closely to determine the trading strategy for the day. Adapt your plan according to price movements and key support and resistance levels.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Trading in financial markets involves risk, and you should consult a qualified financial advisor before making any investment decisions.
If NIFTY opens with a gap above 23050, prices are likely to find support at 23000, targeting levels between 23100 and 23142. However, if prices do not sustain this level and the first-hour candle closes below 22920, consider short trades targeting 22800 to 22750.
Flat Opening
In the case of a flat opening, prices may move upwards after finding support at 22915-22897, potentially reaching 23000 to 23059. Failure to hold support at 22880 may lead to a drop towards 22800.
Gap Down Opening
If NIFTY opens with a gap below 22980 and stays below 22880 during the first trading hour, expect a decline towards 22800. Conversely, a quick recovery above 22915 would indicate a target range of 23000 to 23059.
Conclusion
Monitor the opening and first-hour candle closely to determine the trading strategy for the day. Adapt your plan according to price movements and key support and resistance levels.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Trading in financial markets involves risk, and you should consult a qualified financial advisor before making any investment decisions.
Trade closed: target reached