NIFTY Intraday Trade Setup For 16 Nov 2022
NIFTY Intraday Trade Setup For 16 Nov 2022
Buy-Above 18430
Sl-18380
T-18550 18645
Sell-Below 18280
Sl-18330
T-18210 18105
NIFTY has closed on positive note with 0.41% gain. It gained in the last 1 hour and closed at day high. Initially sell triggered as per trade setup and gave 30 points later updated to trail sl to cost which was hit. But that was the last swing high in 5 Min TF in the down move, above which reversal was bound to come. As the last swing high was broken it started moving up meanwhile buy triggered as per trade setup and that gave almost 50 points.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle close above 18430 then we will long for the target of 18550 and 1864;18500 is mid way.
For selling we need a 15 min candle close below 18280. Target will be 18210 and 18105. Index will be weak below 18350, have a keen observation on price action at this level.
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 18430
Sl-18380
T-18550 18645
Sell-Below 18280
Sl-18330
T-18210 18105
NIFTY has closed on positive note with 0.41% gain. It gained in the last 1 hour and closed at day high. Initially sell triggered as per trade setup and gave 30 points later updated to trail sl to cost which was hit. But that was the last swing high in 5 Min TF in the down move, above which reversal was bound to come. As the last swing high was broken it started moving up meanwhile buy triggered as per trade setup and that gave almost 50 points.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle close above 18430 then we will long for the target of 18550 and 1864;18500 is mid way.
For selling we need a 15 min candle close below 18280. Target will be 18210 and 18105. Index will be weak below 18350, have a keen observation on price action at this level.
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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