NIFTY Intraday Trade Setup For 11 May 2023
Buy-Above 18330
Sl-18280
T- 18415 18510
Sell-Below 18265
Sl-18315
T- 18205 18125
NIFTY has closed on a slight bullish note with 0.27% gain. It has formed a pin bar in daily TF which shows bullishness. Till now our TSL in long from 17685 is not hit. If a daily candle closes below PDL and that red candle's low is breached then we will exit our longs and there will be sentimental halt which may then initiate the pullback move of the up move. Bullishness likely to continue above today's high. Best case will be on a flat opening. Also there will be panic selling below 18210.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18230 then we will long for the target of 18415 and 18510.
For selling we need a 15 Min candle close below 18265. T- 18205. Below 18200 we will test 18125 and lower levels.
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 18330
Sl-18280
T- 18415 18510
Sell-Below 18265
Sl-18315
T- 18205 18125
NIFTY has closed on a slight bullish note with 0.27% gain. It has formed a pin bar in daily TF which shows bullishness. Till now our TSL in long from 17685 is not hit. If a daily candle closes below PDL and that red candle's low is breached then we will exit our longs and there will be sentimental halt which may then initiate the pullback move of the up move. Bullishness likely to continue above today's high. Best case will be on a flat opening. Also there will be panic selling below 18210.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18230 then we will long for the target of 18415 and 18510.
For selling we need a 15 Min candle close below 18265. T- 18205. Below 18200 we will test 18125 and lower levels.
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.
