🛑 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 :-
â—½ resistance is at 18000-18050 -with SL of 18000 - 18110 we can see as the target after breakout
â—½ 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)
â—½i hope that it will help a lot do like , follow for daily updates