NIFTY Intraday Trade Setup For 22 May 2023
Buy-Above 18220
Sl- 18170
T- 18307 18385+
Sell-Below 18135
Sl- 18185
T- 18060 17975
NIFTY has closed with a slight cut with 0.61% last week. It has formed a spinning top candle in weekly TF. High and low of this candle is very important. Below 18060 we will initiate a good down move and above 18460 we will give a good upside momentum for a fresh ATH. Last day it formed a Pin bar candle in daily TF. Above its high- 18220 we may show some bullish momentum. Tomorrow's closing above and below Friday's low and high will indicate the upside and downside momentum for the week.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18220 then we will long for the target of 18307 and 18385.
For selling we need a 15 Min candle close below 18135. T- 18060 and 17975.
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 18220
Sl- 18170
T- 18307 18385+
Sell-Below 18135
Sl- 18185
T- 18060 17975
NIFTY has closed with a slight cut with 0.61% last week. It has formed a spinning top candle in weekly TF. High and low of this candle is very important. Below 18060 we will initiate a good down move and above 18460 we will give a good upside momentum for a fresh ATH. Last day it formed a Pin bar candle in daily TF. Above its high- 18220 we may show some bullish momentum. Tomorrow's closing above and below Friday's low and high will indicate the upside and downside momentum for the week.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18220 then we will long for the target of 18307 and 18385.
For selling we need a 15 Min candle close below 18135. T- 18060 and 17975.
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.
