NIFTY Intraday Trade Setup For 30 May 2022
Buy-Above 16415
Sl-16350
T-16480 16580 16700
Sell-Below 16280
Sl-16330
T-16220 16100
NIFTY closed at day high on Friday. A good upside move above Hammer candle was seen on last trading session. Index is all set to break the 20 days range in the higher side. A hammer is formed in Daily TF. Above 16415 index is likely to head towards 17200 levels in the coming weeks.
Coming to Monday's trades setup, If index opens flat and a 15 Min candle closes above 16370, long above its high for the target of 16480, 16580 and 17700. Safe traders should enter above 16415. Book Max near the hourly trendline plotted in pink.
For selling if a 15 Min candle closes below 16285. Short below the candle's low for the target of 16220. Final target below 16200 will be 16100.
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.
Intraday Support- 16200
Intraday Resistance- 16400
Hourly Support- 15700
Hourly Resistance- 16800
Buy-Above 16415
Sl-16350
T-16480 16580 16700
Sell-Below 16280
Sl-16330
T-16220 16100
NIFTY closed at day high on Friday. A good upside move above Hammer candle was seen on last trading session. Index is all set to break the 20 days range in the higher side. A hammer is formed in Daily TF. Above 16415 index is likely to head towards 17200 levels in the coming weeks.
Coming to Monday's trades setup, If index opens flat and a 15 Min candle closes above 16370, long above its high for the target of 16480, 16580 and 17700. Safe traders should enter above 16415. Book Max near the hourly trendline plotted in pink.
For selling if a 15 Min candle closes below 16285. Short below the candle's low for the target of 16220. Final target below 16200 will be 16100.
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.
Intraday Support- 16200
Intraday Resistance- 16400
Hourly Support- 15700
Hourly Resistance- 16800
