NIFTY Intraday Trade Setup For 12 May 2023
Buy-Above 18351
Sl-18300
T- 18430 18510
Sell-Below 18270
Sl-18320
T- 18195 18125
NIFTY has once again closed almost on a flat note today. It opened with a decent gap up and spiked in the 1st candle itself. Later buy triggered as per trade setup which hit 50 points sl. It traded inside 10 o'clock range till 3 PM. Tomorrow we will use the range formed to trade on breakout. 18351 and 18270 is the range. Best trade will be in long side if triggers. It was said in the beginning of this week that a sideways momentum is very much possible which is common after an impulse, so has happened. Next week can be trending on broader range breakout.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 18351 then we will long for the target of 18430 and 18510.
For selling we need a 15 Min candle close below 18270. T- 18195 and 18125.
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 18351
Sl-18300
T- 18430 18510
Sell-Below 18270
Sl-18320
T- 18195 18125
NIFTY has once again closed almost on a flat note today. It opened with a decent gap up and spiked in the 1st candle itself. Later buy triggered as per trade setup which hit 50 points sl. It traded inside 10 o'clock range till 3 PM. Tomorrow we will use the range formed to trade on breakout. 18351 and 18270 is the range. Best trade will be in long side if triggers. It was said in the beginning of this week that a sideways momentum is very much possible which is common after an impulse, so has happened. Next week can be trending on broader range breakout.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 18351 then we will long for the target of 18430 and 18510.
For selling we need a 15 Min candle close below 18270. T- 18195 and 18125.
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.
