NIFTY Intraday Trade Setup For 29 May 2023
NIFTY Intraday Trade Setup For 29 May 2023
Buy-Above 18510
Sl-18460
T- 18610 18730
Sell-Below 18440
Sl-18490
T- 18369 18275
NIFTY has closed on a bullish sentiment last week and day with 1.63% and 0.97% gain respectively. Last week for the 4 sessions out of 5 index was inside previous week range and the hourly range told. On last day of the week it broke the upper range 18460 and closed above that. We are likely to hit a fresh ATH , near 19000+. We need to follow hourly structure for riding it. Bullishness likely to continue above last day's high if sustained and this scenario will be best suited on flat opening.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18510 then we will long for the target of 18610 and 18730.
For selling we need a 15 Min candle close below 18440. T- 18369 and 18275.
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 18510
Sl-18460
T- 18610 18730
Sell-Below 18440
Sl-18490
T- 18369 18275
NIFTY has closed on a bullish sentiment last week and day with 1.63% and 0.97% gain respectively. Last week for the 4 sessions out of 5 index was inside previous week range and the hourly range told. On last day of the week it broke the upper range 18460 and closed above that. We are likely to hit a fresh ATH , near 19000+. We need to follow hourly structure for riding it. Bullishness likely to continue above last day's high if sustained and this scenario will be best suited on flat opening.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18510 then we will long for the target of 18610 and 18730.
For selling we need a 15 Min candle close below 18440. T- 18369 and 18275.
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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