🛑 NIFTY trading below 21DMA this will act as Resistance (18078),
- 50 DMA will act as Support ,17775 level will be crucial to hold nifty
-NIFTY weekly pivot point 17875.4
🛑 Key levels to watch out for intraday traders :-
◽ resistance is at 18000-18050
-with SL of 18000
- 18110 we can see as the target after breakout
◽ support level is at 17800-17775
-with the SL of 17850
- 17700 we can see as target after breakdown
🛑 rules to follow
* avoid trade if market opens above/ below our levels
- simply , avoid if market opens at or above our resistance zone (Huge GAP up)
- avoid if market opens at or below our support zone (Huge GAP down)
(reason behind avoiding trade because market don't like gaps it will try to fill the gaps )
*if huge gap UP or DOWN happens then we have to just wait for price action and until fill the gap then we can take trade
* after initiating the trade we must have to wait until it will hit either TARGET or STOP LOSS
*initiate trade after immediate breakout / breakdown(possibility making profit is higher)
- or one can initiate after retesting the level (possibility making profit is lower)
◽i hope that it will help a lot
do like , follow for daily updates
- 50 DMA will act as Support ,17775 level will be crucial to hold nifty
-NIFTY weekly pivot point 17875.4
🛑 Key levels to watch out for intraday traders :-
◽ resistance is at 18000-18050
-with SL of 18000
- 18110 we can see as the target after breakout
◽ support level is at 17800-17775
-with the SL of 17850
- 17700 we can see as target after breakdown
🛑 rules to follow
* avoid trade if market opens above/ below our levels
- simply , avoid if market opens at or above our resistance zone (Huge GAP up)
- avoid if market opens at or below our support zone (Huge GAP down)
(reason behind avoiding trade because market don't like gaps it will try to fill the gaps )
*if huge gap UP or DOWN happens then we have to just wait for price action and until fill the gap then we can take trade
* after initiating the trade we must have to wait until it will hit either TARGET or STOP LOSS
*initiate trade after immediate breakout / breakdown(possibility making profit is higher)
- or one can initiate after retesting the level (possibility making profit is lower)
◽i hope that it will help a lot
do like , follow for daily updates
