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NIFTY Intraday Trade Setup For 12 Jun 2023NIFTY Intraday Trade Setup For 12 Jun 2023 Buy-Above 18595 Sl-18545 T- 18685 18780 Sell-Below 18555 Sl-18605 T- 18485 18400 NIFTY has closed on a bearish sentiment last week and formed a shooting star in daily charts. The shooting star is not a perfect place to consider for a confirmed short trade. However we can get some down move if we sustain below candle's low- 18550.Important level for short is 18450, below this we get a sell structure then we will plan for a sell trade or else not. This was all about daily TF. Coming to hourly TF, we are at the trendline support. So a bounce small or big is very much possible. We will trade this bounce if we get a bullish reversal price action in 15 Min TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18595 then we will long for the target of 18685 and 18780. For selling we need a 15 Min candle close below 18555. T- 18485 and 18400. 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.
NSE:NIFTY
by Omahto
Is market forming new ATH or getting ready to retrace?Nifty closed below the area where major trading is happening and the seller are really hit on the game selling markets at high. Though, it is a short term bear market. For last two weeks, market has consolidated and has formed another doji near the high. Markets are in confusion and the buyer-seller fight is still on. There is a confirmation as a double top patter is also beening formed. 1600 points or 9% move in nifty without a serious retracement on weekly charts. Though, markets have given good bullish move forming Higher Highs Higher Lows and is standing near the ATH but is losing the strenght for another up move as RSI is showing a divergence. People see a up move but before the move the markets will give a dip to hit the stop loses. Look for a Break Of Structure (BOS) forming a Lower Low. The major level of swing trades is below 18450-500 as there will be a BOS and 20 EMA will also give a break down on daily charts. For positional traders, there is an opportunity on the weekly charts where the next support seems to be around 18k levels. Fibonacci levels, support zone and moving averages all are converging creating a strong support near the levels. Enter trade only after there is a pattern formation or a retest and adapt for trailing stop losses to carry on with the trades. MA setup can also adopted for targets and stop loss as Daily and weekly moving averages are around the support zones. High chances are of a retest before Nifty creating a New ATH. Buyer have wait as per the technical analysis predicts. Wait for a confirmation and break down.
NSE:NIFTY
by Mambotrade
NIFTY Intraday Trade Setup For 09 Jun 2023NIFTY Intraday Trade Setup For 09 Jun 2023 Buy-Above 18725 Sl- 18775 T- 18810 18895 Sell-Below 18615 Sl-18665 T- 18523 18450 NIFTY has closed on a bearish note with almost 0.50% cut today. It opened flat and buy triggered above 18740 and gave small momentum in upside till 18777 then fell sharply which hit sl in long side. Later 10 o'clock range broke below 18723 and gave a one way move till 18616 which was more than 100 points gain. Bearishness may continue below today's low- 18615. Also we have to be alert for reversal if there a reversal price structure in 5/15 Min TF. Important resistance is 18725. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 18725 then we will long for the target of 18810 and 18895. For selling we need a 15 min candle close below 18615. T- 18523 and 18450. 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.
NSE:NIFTY
by Omahto
Nifty daily analysis for 09/06/23.Nifty has given a beautiful bearish engulfing candle. The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high. Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions. The market even tried to trap the retails by giving a fake out above 20 ema, on 15 minutes chart. Support :- 18550, 18490 Resistance :- 18700, 18800. Both side momentum has been there in today's trading session. The market may take a halt of fall further. Watch support and resistance. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY Intraday Trade Setup For 8 Jun 2023NIFTY Intraday Trade Setup For 8 Jun 2023 Buy-Above 18740 Sl- 18690 T- 18817 18895 Sell-Below 18660 Sl-18710 T- 18593 18523 NIFTY has closed on a bullish note with 0.68% today. Last day we already anticipated that we will have a good upside movement with good momentum above 18625. It was clearly said last day that the best trade and high probability trade is in upside. It opened with a decent gap up above the buy level and then 10 o'clock range broke upside above 18676 and gave one way move till 18730. Also our positional trade was triggered above 18460 , initial we planned was a fresh ATH. Now we are at a striking distance to target. Once again we can expect good momentum above today's high - 18740. Below 18660 intraday selling will be planned tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18740 then we will long for the target of 18817 and 18895. For selling we need a 15 Min candle close below 18640. T-18593 and 18523. 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.
NSE:NIFTY
by Omahto
Nifty daily analysis for 08/06/23.Nifty today has given a nice move and closed above the resistance zone of 18680. It remained strong whole day and gained momentum in the second half after the gap up opening. On the hourly charts, market seems to consolidate in the first half and gained points in the second half closing above 18700. Market seems to touch the high and create new ATH. Support :- 18680, 18550 Resistance :- 18800, 18870 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY Intraday Trade Setup For 07 Jun 2023NIFTY Intraday Trade Setup For 07 Jun 2023 Buy-Above 18625 Sl- 18575 T- 18720 18800 Sell-Below 18530 Sl-18580 T- 18450 18380 NIFTY has closed on a flat note today. It has been updating almost everyday that we are inside the hourly and daily range and we will have only sideways momentum till we trade between 18670 and 18460. Today it opened almost flat and a sell triggered below 18580 and gave 50 points which was 1:1. In this sideways market and ultra low VIX environment we can expect small moves only. Tomorrow there can be good upside movement will good momentum above today's high. High probability trade is in upside. Below 18530 we will plan for sell. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 18625 then we will long for the target of 18720 and 18800. For selling we need a 15 Min candle close below 18530. T- 18450 and 18380. 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.
NSE:NIFTY
by Omahto
Nifty daily analysis for 07/06/23.A perfect dragon fly doji has been formed on the daily charts. Markets recovered in the last hour of the session. On the hourly charts, the market has closed above the 20 ema. Nifty fell slowlu and recovered quickly during the last hour and closed flat. The market has closed above both the moving averages on 15 minutes charts. Support :- 18560, 18490 Resistance :- 18680, 18800 The market has been trading in a range and can give nice up move as it is holding the upper levels. Bullish trades should only be initiated once the market crosses the major resistance area of 18700. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY Intraday Trade Setup For 06 Jun 2023NIFTY Intraday Trade Setup For 06 Jun 2023 Buy-Above 18641 Sl-18590 T- 18730 18820 Sell-Below 18580 Sl-18630 T- 18495 18409 NIFTY has closed with a 0.32% gain today. Although it closed with gain it ended the day with bearish sentiment as it closed near day low and all the gains were contributed by gap up. Index is inside the daily range of 18670 and 18460. Index will be trading on sideways note till we are inside the broader range. Tomorrow we will trade above and below today's high and low. Today it opened above our buy level with a decent gap up. It was inside the 10 o'clock range whole day. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 18641 then we will long for the target of 18730 and 18820. For selling we need a 15 Min candle close below 18580. T- 18495 and 18409. 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.
NSE:NIFTY
by Omahto