Simple Trade Setup | NIFTY | 14-02-2022 [INTRADAY]

Feb 13, 2022

NIFTY

Observations:

1) On 1day time frame, it is near the support channel now. Also it closed just above 100EMA.
100EMA is placed at 17368 level.

Please refer below chart : 1day Time Frame.


2) On 15min time frame, we can see an intermediate channel. it can take support from it if it trades above and it can take resistance of it, if it trades below it.

Please refer below chart : 15min Time Frame.


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Trade Setup for 14-02-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.