NIFTY 50 crucial levels for Tuesday!

NSE:NIFTY   Nifty 50 Index
πŸ›‘ NIFTY closed above 21DMA ,
- Trading above 50,100 DMA
-NIFTY weekly pivot point 18004.5

πŸ›‘ Key levels to watch out for intraday traders :-

β—½ Resistance is at 18200-18220
-with SL of 18150
- 18300 we can see as the target after breakout

β—½ Support level is at 18050-18000
-with the SL of 18070
- 17900 we can see as target after breakdown

πŸ›‘ Rules to follow
* avoid trade if market opens above/ below our levels
- in other words , 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

*initiate the trade by using 5mins time frame chart ,

-if breakout happens and 5min candle closed above mentioned level then initiate trade
- if breakdown happens and 5min candle closed below mentioned level then initiate trade
(so point is candle must as close above / below our mentioned levels then initiate trade ,
while operating SL also same candle as to close below the levels)

* 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)
β—½or one can initiate after retesting the level (possibility making profit is lower)

β—½i hope that it will help a lot
do like , follow for daily updates


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.