NIFTY has closed on a slight negative note with 0.55% cut. Market is still inside broader range of 18100 and 17150. The daily candle is a spinning top which is a sign of indecision. Last day we planned to sell below 17745 which has given 80 points. Overall it was a volatile session. Tomorrow we can open with a big gap up or down as we will react the FED announcement.
Coming to tomorrow's trade setup, if index opens flat and a a 5 Min candle closes above 17795 then we will long for the target of 17860, 17920. Above which we will head towards 18090.
For selling we need a 5 Min candle close below 17660. Targets will be 17600, 17533 and near 17430. Below which we can slide more.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
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