NIFTY 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.
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.
