NIFTY Intraday Trade Setup For 12 May 2022
NIFTY Intraday Trade Setup For 12 May 2022
Buy-Above 16225
Sl-16070
T-16300 16400 16500
Sell-Below 16030
Sl-16090
T-16060 16000
NIFTY has formed a hammer candle in daily TF. It hit all our target in sell side. 16000 gave a good support. Above hammer candle's high- 16320 a short covering is possible. This move can be extended till 16700. BANKNIFTY is more than NIFTY as HDFC Twins stabilizes.
Coming to tomorrow's trade setup, we are gonna long above 16225 on a 15 Min candle closes above this. Targets will be 16300, 16400 and 16500. This move will get stronger above 16410.
For selling, aggressive sell position can be opened below 16130. If a 15 Min candle closes below 16150, below its low we short for the target of 16060 and 16000. Safe traders should short once 16000 is broken with a 15 min candle close.
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.
Hourly Resistance - 16800
Hourly Support- 16000
Intraday Resistance- 16500
Intraday Support- 16000
Hourly View, invalid below 16000.
https://www.tradingview.com/x/BPKKqeM6/
Buy-Above 16225
Sl-16070
T-16300 16400 16500
Sell-Below 16030
Sl-16090
T-16060 16000
NIFTY has formed a hammer candle in daily TF. It hit all our target in sell side. 16000 gave a good support. Above hammer candle's high- 16320 a short covering is possible. This move can be extended till 16700. BANKNIFTY is more than NIFTY as HDFC Twins stabilizes.
Coming to tomorrow's trade setup, we are gonna long above 16225 on a 15 Min candle closes above this. Targets will be 16300, 16400 and 16500. This move will get stronger above 16410.
For selling, aggressive sell position can be opened below 16130. If a 15 Min candle closes below 16150, below its low we short for the target of 16060 and 16000. Safe traders should short once 16000 is broken with a 15 min candle close.
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.
Hourly Resistance - 16800
Hourly Support- 16000
Intraday Resistance- 16500
Intraday Support- 16000
Hourly View, invalid below 16000.
https://www.tradingview.com/x/BPKKqeM6/
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