NIFTY Intraday Trade Setup For 17 May 2022
Buy-Above 15905
Sl-15850
T- 16000 16080 16175
Sell-Below 15735
Sl-15790
T-15600 15500
NIFTY has formed a doji candle in daily TF. Its can be a trend pause/reversal above doji's high and continuation below doji's low. Important levels to watch tomorrow :- 15730 (S)
16000 (R)
If a 15 Min candle is closed below 15735 then short for the target of 15600 and 15500. Book profits near 15500 as it is a support level.
For buying if a 15 Min candle closes above 15905 then above that candle long for the target of 16000, 16080 and 16180. 17180-16200 can act as a supply zone.
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.
Intraday Support- 15735-50
Intraday Resistance- 16200
Hourly Support- 15500
Hourly Resistance- 16400
Buy-Above 15905
Sl-15850
T- 16000 16080 16175
Sell-Below 15735
Sl-15790
T-15600 15500
NIFTY has formed a doji candle in daily TF. Its can be a trend pause/reversal above doji's high and continuation below doji's low. Important levels to watch tomorrow :- 15730 (S)
16000 (R)
If a 15 Min candle is closed below 15735 then short for the target of 15600 and 15500. Book profits near 15500 as it is a support level.
For buying if a 15 Min candle closes above 15905 then above that candle long for the target of 16000, 16080 and 16180. 17180-16200 can act as a supply zone.
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.
Intraday Support- 15735-50
Intraday Resistance- 16200
Hourly Support- 15500
Hourly Resistance- 16400
