NIFTY Intraday Trade Setup For 18 Jul 2022
Buy-Above 16070
Sl-16010
T-16145 16228
Sell-Below 16000
Sl-16060
T-15930 15875
NIFTY has formed an inside candle in weekly TF. High and low of the mother candle is 16275.5 and 15661.8. So we can expect a bullish momentum above 16300 and downside momentum below 15650. After taking support from the hourly trendline it has formed a hammer candle in daily TF. Above 16070 we are likely to see a good upside momentum till 16200-16230.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 16070, we will long for the target of 16145 and 16228.
If 5 Min candle closes below 16000 we will short for the target of 15930. Below 15920 we will head towards 15875.
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 16070
Sl-16010
T-16145 16228
Sell-Below 16000
Sl-16060
T-15930 15875
NIFTY has formed an inside candle in weekly TF. High and low of the mother candle is 16275.5 and 15661.8. So we can expect a bullish momentum above 16300 and downside momentum below 15650. After taking support from the hourly trendline it has formed a hammer candle in daily TF. Above 16070 we are likely to see a good upside momentum till 16200-16230.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 16070, we will long for the target of 16145 and 16228.
If 5 Min candle closes below 16000 we will short for the target of 15930. Below 15920 we will head towards 15875.
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.
