NIFTY Intraday Trade Setup For 18 May 2023
Buy-Above 18200
Sl-18150
T- 18270 18340
Sell-Below 18115
Sl-18165
T- 18030 17950
NIFTY has closed on a bearish note with 0.57% cut today. Last day it was said that our trailing sl in long side has been hit and below 18260 there we will be a pullback/down move along with a trendline breakdown in hourly TF. Sell triggered as per trade setup below 18260 and hit almost 2nd target (18260-18115.35). Above 18200 on a bullish price structure we will initiate a pullback move of the fall which started from 18460. Down move likely to continue below 18115.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18200 then we will long for the target of 18270 and 18340.
For selling we need a 15 Min candle close below 18115. T- 18030 and 17950.
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.
Buy-Above 18200
Sl-18150
T- 18270 18340
Sell-Below 18115
Sl-18165
T- 18030 17950
NIFTY has closed on a bearish note with 0.57% cut today. Last day it was said that our trailing sl in long side has been hit and below 18260 there we will be a pullback/down move along with a trendline breakdown in hourly TF. Sell triggered as per trade setup below 18260 and hit almost 2nd target (18260-18115.35). Above 18200 on a bullish price structure we will initiate a pullback move of the fall which started from 18460. Down move likely to continue below 18115.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18200 then we will long for the target of 18270 and 18340.
For selling we need a 15 Min candle close below 18115. T- 18030 and 17950.
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.
