NIFTY Intraday Trade Setup For 16 Dec 2022
NIFTY Intraday Trade Setup For 16 Dec 2022
Sell_1 - From 18565
Sl-18615
T-18475 18390
Sell_2- Below 18385
Sl-18435
T-18255 18129
NIFTY has closed on negative sentiment with 1.32% cut. Last day we discussed about the tiny spinning top candle formed in daily TF. It was a simple planning to trade the neutral candle on range breakout. Low broke and we saw a free fall in index. Sell triggered as per trade setup @ 18630 and hit all the mentioned and plotted targets. This trade gave more than 220 points gain without hitting any trailing sl on spot. Bearish sentiment likely to continue below its low and we can test last swing low 18100.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 18385 then we will short for the target of 18255 and 18129.
In case we open gap up and 18565 is tested in the 1st 45 Min then we will short from there for the target of 18475 and 18390.
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.
Sell_1 - From 18565
Sl-18615
T-18475 18390
Sell_2- Below 18385
Sl-18435
T-18255 18129
NIFTY has closed on negative sentiment with 1.32% cut. Last day we discussed about the tiny spinning top candle formed in daily TF. It was a simple planning to trade the neutral candle on range breakout. Low broke and we saw a free fall in index. Sell triggered as per trade setup @ 18630 and hit all the mentioned and plotted targets. This trade gave more than 220 points gain without hitting any trailing sl on spot. Bearish sentiment likely to continue below its low and we can test last swing low 18100.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 18385 then we will short for the target of 18255 and 18129.
In case we open gap up and 18565 is tested in the 1st 45 Min then we will short from there for the target of 18475 and 18390.
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.
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