NIFTY Intraday Trade Setup For 12 Dec 2022

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 12 Dec 2022

T-18615 18720

Sell- Below 18410
T-18295 18195

NIFTY has has closed on a negative sentiment on Friday. Last week it was clearly told that we have given a breakout in Monthly TF and we are likely to see a pullback before any further up move. So has happened, we can spot a pullback candle in weekly TF with 1% cut. Next bullish momentum will be triggered above ATH. Inside candle (Bearish Harami) formed in weekly charts. Above and below the high and low of the mother candle will trigger the next momentum.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18515. A pullback is must to consider this trade. Target will be 18615 and 18720.

For selling we need a 15 Min candle close below 18410. Target will be 18295. Post bounce target will be 18195 and below.

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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