NIFTY Intraday Trade Setup For 5 Dec 2022
Buy-Above 18715
Sl-18665
T-18800 18880
Sell-Below 18639
Sl-18690
T-18530 18425
NIFTY closed with a slight gain of 1% this week. Monthly and weekly candle closed above the 52 week high - 18605. Our short term long trade which was triggered on 18 Oct 2022 @ 17430 hit our projected target and our trailing sl is hit on Friday as it closed below PDL. Now we need fresh setup to trade for the short term for any side. A small pullback can be expected but we need a negative price structure in hourly and daily TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18715 then we will long for the target of 18800 above which we will hit 18880. A pullback will be best suited.
For selling we need a 15 Min candle close below 18639. Target will be 18530. Below 18500 we will hit 18425.
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 18715
Sl-18665
T-18800 18880
Sell-Below 18639
Sl-18690
T-18530 18425
NIFTY closed with a slight gain of 1% this week. Monthly and weekly candle closed above the 52 week high - 18605. Our short term long trade which was triggered on 18 Oct 2022 @ 17430 hit our projected target and our trailing sl is hit on Friday as it closed below PDL. Now we need fresh setup to trade for the short term for any side. A small pullback can be expected but we need a negative price structure in hourly and daily TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18715 then we will long for the target of 18800 above which we will hit 18880. A pullback will be best suited.
For selling we need a 15 Min candle close below 18639. Target will be 18530. Below 18500 we will hit 18425.
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.
