NIFTY Intraday Trade Setup For 4 May 2023
Buy-Above 18117
Sl-18070
T- 18180 18250
Sell-Below 18040
Sl-18090
T- 17945 17855
NIFTY has closed on a slight bearish note with 0.32% cut today. It opened with a slight gap down and sell triggered below 18100. Trade gave more than 50 points gain which was 1:1. It has formed a pin bar in daily charts and closed below PDL. A sentimental halt/reversal will be triggered below its low- 18040. Index will be in a profit booking mode below this. IF its low is safe and we sustain above today's high then bullish sentiment will be intact. We will simply plan our trade on today's range.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 18117 then we will long for the target of 18180 and 18250-65.
For selling we need a 15 min candle close below 18040. T- 17945 and 17855.
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.
Buy-Above 18117
Sl-18070
T- 18180 18250
Sell-Below 18040
Sl-18090
T- 17945 17855
NIFTY has closed on a slight bearish note with 0.32% cut today. It opened with a slight gap down and sell triggered below 18100. Trade gave more than 50 points gain which was 1:1. It has formed a pin bar in daily charts and closed below PDL. A sentimental halt/reversal will be triggered below its low- 18040. Index will be in a profit booking mode below this. IF its low is safe and we sustain above today's high then bullish sentiment will be intact. We will simply plan our trade on today's range.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 18117 then we will long for the target of 18180 and 18250-65.
For selling we need a 15 min candle close below 18040. T- 17945 and 17855.
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.
Trade active:
Avoid trading today as it is opening with a huge gap down . All levels are invalid now.
