Gap Up Opening:
In case of a gap up opening above 22700, consider buying if prices trade above 22740 with a SL of 22690, targeting 22814 – 22896. However, if prices face rejection near 22735 and trade below 22690, a drop to 22588 – 22534 is possible. Buying opportunities may emerge at these levels with a SL of 22500 for targets of 22600 – 22690.
Flat Opening:
On a flat opening, expect a retracement and potential drop after rejection near 22700 – 22690, targeting 22588 – 22534. Buying opportunities could arise at these levels with a SL of 22500 and targets of 22650-22690. Alternatively, if prices sustain and trade above 22740, an upward movement towards 22814 – 22896 can be expected.
Gap Down Opening:
If there's a gap down opening below 22600, consider buying near 22588-22534 with a SL at 22500 and targets of 22645 – 22690 – 22730. Further downside below 22500 may lead to a drop towards 22403-22400.
Conclusion:
The NIFTY trading plan for 10-Apr-2024 provides insights into potential market movements and strategies for traders to consider. It's essential for traders to assess their risk tolerance and implement proper risk management techniques.
Disclaimer:
The trading plan provided is for informational purposes only and should not be considered as financial advice. Traders should conduct their own research or consult with a qualified financial advisor before making any investment decisions. The author and publisher do not guarantee the accuracy or completeness of the information provided and shall not be held liable for any losses incurred from trading activities based on this plan.