Nifty trade setup for wednesday
See how our level work today...again when everyone is shorting Nifty @ 13040 we are long above 13040 .
Hope you guys made the money .we should look buy oppurtunity only till market sustain above 13000 hovever book profit aroun 13200. for scalping short ..level mention on chart.
Scalping
BHEL long scalp opportunityRSI indicating a bullish divergence with a trend resversal pattern breakout
Buying opportunity on pullback at 28.80 - 29-30
Targets - 32.75 | 34.60
Stop Loss is a must since markets are currently overbought and greed is high
One can also consider selling OTM put option and hold till expiry
NIFTY TRADE SETUP FOR WEDNESDAYYesterday I told you will look to buy above 11820.
The market made low 11833 but could not catch @ the bottom. sold 11800 PE around 11850.
And book the profit around 11920.
Tomorrow I will again look to sell PE till the
market sustain above 11905 and
will sell CE if the market sustains below 11880.
NIFTY TRADE SET UP FOR MONDAYMarket Range - 11800- 11650.
above 11800 long and below 11650 short.
but this is 150 point range and as an Intraday trader, we have to make money in between these range.
i have draw a trend line if the market closes below that line in 5 min chart I will short and above that trend line, I will go long.
don't wait for long profit insted book small profit multiple time.
Happy trading.