NIFTY Intraday Trade Setup For 15 May 2023
Buy-Above 18345
Sl-18295
T- 18430 18510
Sell-Below 18265
Sl-18315
T- 18190 18115
NIFTY has closed on a bullish sentiment last day and week with 0.10% and 1.36% gain respectively. Last week it was said that we may have a sideways momentum, except Monday it was sideways rest of the days. Based on that range important levels are 18400 and 18200. Sustained breakout of this range will give us a good directional move either side. Also we have been holding our longs from 17685 ; TSL being intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs and in that case there will be a pullback scenario.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18345 then we will long for the target of 18430 and 18510.
For selling we need a 15 Min candle close below 18265. T- 18190 and 18115.
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 18345
Sl-18295
T- 18430 18510
Sell-Below 18265
Sl-18315
T- 18190 18115
NIFTY has closed on a bullish sentiment last day and week with 0.10% and 1.36% gain respectively. Last week it was said that we may have a sideways momentum, except Monday it was sideways rest of the days. Based on that range important levels are 18400 and 18200. Sustained breakout of this range will give us a good directional move either side. Also we have been holding our longs from 17685 ; TSL being intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit longs and in that case there will be a pullback scenario.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18345 then we will long for the target of 18430 and 18510.
For selling we need a 15 Min candle close below 18265. T- 18190 and 18115.
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.
