Trade setup today

Trade setup today: As expected, opening was in red.

From very opening Nifty Future has corrected slow but steadily.

The index made intraday bottom below 245 points of previous day’s high.

And bounce back approximately 50% of the fall.

 

Now we have to be preparing for tomorrow’s trade.

When writing this post (12:35 am) SGX Nifty October series made high 11358.

What should be the day’s high and low is very vital to know before performing a good trade.

 

Today at last half I have updated at every social media that Nifty Future going to made high 11324.

Last minutes of trading the index made high 11324.

Very vital resistance is 11354.

Today, if Nifty Future fail to cross yesterday’s high (11324).

Then first support may be 11135.

Below this 11072 is crucial support for the day.

Any bounce back between the zones is good opportunity to go fresh short positions.

I have updated a picture to clear everything.