NIFTY 50 crucial levels for Wednesday!

23 בנוב׳ 2021

🛑 NIFTY closed below 21,50 DMA
- Taking Support from 100 DMA
-NIFTY weekly pivot point 17888.7

🛑 Key levels to watch out for intraday traders :-

◽ Resistance is at 17600-17650
-with SL of 17550
- 17750 we can see as the target after breakout

◽ Support level is at 17300-17250
-with the SL of 17350
- 17150 we can see as target after breakdown

🛑 Rules to follow
* avoid trade if market opens above/ below our levels
- in other words , avoid if market opens at or above our resistance zone (Huge GAP up)
- Avoid if market opens at or below our support zone (Huge GAP down)
(reason behind avoiding trade because market don't like gaps it will try to fill the gaps )

*if huge gap UP or DOWN happens then we have to just wait for price action and until fill the gap then we can take trade

*initiate the trade by using 5mins time frame chart ,
-if breakout happens and 5min candle closed above mentioned level then initiate trade
- if breakdown happens and 5min candle closed below mentioned level then initiate trade
(so point is candle must as close above / below our mentioned levels then initiate trade ,
while operating SL also same candle as to close below the levels)

* After initiating the trade we must have to wait until it will hit either TARGET or STOP LOSS

*initiate trade after immediate breakout / breakdown(possibility making profit is higher)
◽or one can initiate after retesting the level (possibility making profit is lower)



◽i hope that it will help a lot
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