NIFTY Intraday Trade Setup For 5 Jan 2023

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 5 Jan 2023

Buy-Above 18135
T- 18206 18275

Sell-Below 18020
T-17945 17867

NIFTY has closed on a bearish sentiment with more than 1% cut. It was weak since opening. As soon as the 1st 15 Min candle's low broke index fell non-stop. That 15 Min candle was a price rejection candle that is why double force move came. As per trade setup, sell triggered below 18205 and hit all targets (extended also). This trade gave more than 180 points gain. Index has closed near day low which is a bearish sign. Index can slid towards 17950 and 17800 if today's low is breached and sustained. Important level for next upside momentum is 18270.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18135 then we will long for the target of 18206 and 18275.

For selling we need a 15 Min candle close below 18020. T-17945 and 17870.

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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