This will be my trade setup for nifty for 18 May 2023:
Today price wasn't able to move above trend line and bears were only the charge of the price now nifty have 18200, 18260 and 18290 hurdles on upside whereas on downside nifty took support at 18100. For tomorrow i will trade considering these things in mind:
1. If Opens flat and price sustains today's close or at 18200 level will look for buying for target of 18260, 18290.
2. If it opens gap up will look for rejections from near resistance or if take that gap as support
3. If it open gap down will look for sell below 18150 for 18100, 18050.
This is not a advise of any kind. i will try to trade according to this setup.
Today price wasn't able to move above trend line and bears were only the charge of the price now nifty have 18200, 18260 and 18290 hurdles on upside whereas on downside nifty took support at 18100. For tomorrow i will trade considering these things in mind:
1. If Opens flat and price sustains today's close or at 18200 level will look for buying for target of 18260, 18290.
2. If it opens gap up will look for rejections from near resistance or if take that gap as support
3. If it open gap down will look for sell below 18150 for 18100, 18050.
This is not a advise of any kind. i will try to trade according to this setup.
Order cancelled:
Wasn't able to trade the setup but it worked as per analysis price rejected from gap up opening and bears took hold of price whole day.