Nifty has formed an inside doji candle in a downtrend which shows indecision before a Breakout. For intraday trade on expiry, On buy side Previous Day High(PDH) becomes crucial which is 16800. Therefore Buy above 16700 for tgt of 16800 and since its a downtrend, so no more trade on Buy side.
If it Opens gap up or faces resistance at 16800, then a sell trade will be initiated for a Tgt 1 of 16600 and further 16500. Expiry is likely to be near 16500. Further if after a flat opening, price breaks 16500 and trades for about 15 mins then again a sell trade will be initiated for tgt of 16350 and then 16200.
Thanks and have a great trading day.
If it Opens gap up or faces resistance at 16800, then a sell trade will be initiated for a Tgt 1 of 16600 and further 16500. Expiry is likely to be near 16500. Further if after a flat opening, price breaks 16500 and trades for about 15 mins then again a sell trade will be initiated for tgt of 16350 and then 16200.
Thanks and have a great trading day.
