NIFTY Intraday Trade Setup For 05 June 2023
Buy-Above 18581
Sl- 18530
T- 18668 18745
Sell- Below 18460
Sl-18510
T- 18367 18273
NIFTY has closed with a slight gain of 0.19% last week and formed a neutral candle last week. Last week we gave the swing breakout of 18460 then after a small follow up we entered into a pullback consolidation, kind of CIP. Now we have a trendline in hourly TF , breakout above 18581. Above this level we may initiate a fresh rally. 18670 is the main turning point in daily chart. above that we will hit a fresh ATH. Below 18460 , breakout may fade up and we may slip to lower levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18581 then we will long for the target of 18668 and 18745.
For selling we need a 15 Min candle close below 18460. T- 18367 and 18273.
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 18581
Sl- 18530
T- 18668 18745
Sell- Below 18460
Sl-18510
T- 18367 18273
NIFTY has closed with a slight gain of 0.19% last week and formed a neutral candle last week. Last week we gave the swing breakout of 18460 then after a small follow up we entered into a pullback consolidation, kind of CIP. Now we have a trendline in hourly TF , breakout above 18581. Above this level we may initiate a fresh rally. 18670 is the main turning point in daily chart. above that we will hit a fresh ATH. Below 18460 , breakout may fade up and we may slip to lower levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18581 then we will long for the target of 18668 and 18745.
For selling we need a 15 Min candle close below 18460. T- 18367 and 18273.
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.
