Simple Trade Setup | NIFTY | 17-12-2021 [ INTRADAY ]

Dec 16, 2021

NIFTY

Observations:

1) On 15min time frame, we can see it open above the resistance trendline and at the time of closing it closed just above it. Now this trendline will work as support if it trades above it.

Please refer below chart : 15min Time Frame.



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Trade Setup for Date: 17-12-2021

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.