NIFTY Intraday Trade Setup For 18 May 2022
Buy_1-Above 16285
Sl-16230
T-16400 16500 16200
Buy_2- From 16100
Sl-16040
T-16200 16300 16400
NIFTY has given a follow up after the reversal candle formed in daily TF yesterday. We planned to buy above 15905. It triggered our buy trade and it just sky rocketed. From 15905 it shot up till 16280 and closed at day high. Gave alert that above doji candle's high it can be a trend reversal. It was a fantastic day.
Coming to tomorrow's trade setup, we will long above 16285 for the target of 16400, 16500 and 16600.
In case index tests 16100 in the 1st 45 min and makes a bullish structure at near 16100 in smaller TF. then build a long for the target of 16200, 16300 and 16400.
Selling can be planned below 15900 only.
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.
Intraday Support- 16100
Intraday Resistance- 16500
Hourly Support- 15700
Hourly Resistance-16700
Buy_1-Above 16285
Sl-16230
T-16400 16500 16200
Buy_2- From 16100
Sl-16040
T-16200 16300 16400
NIFTY has given a follow up after the reversal candle formed in daily TF yesterday. We planned to buy above 15905. It triggered our buy trade and it just sky rocketed. From 15905 it shot up till 16280 and closed at day high. Gave alert that above doji candle's high it can be a trend reversal. It was a fantastic day.
Coming to tomorrow's trade setup, we will long above 16285 for the target of 16400, 16500 and 16600.
In case index tests 16100 in the 1st 45 min and makes a bullish structure at near 16100 in smaller TF. then build a long for the target of 16200, 16300 and 16400.
Selling can be planned below 15900 only.
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.
Intraday Support- 16100
Intraday Resistance- 16500
Hourly Support- 15700
Hourly Resistance-16700
