🛑 NIFTY closed below 21DMA ,
- Trading above 50,100 DMA
-NIFTY weekly pivot point 18004.5
🛑 Key levels to watch out for intraday traders :-
◽ Resistance is at 18000-18050
-with SL of 18000
- 18120 we can see as the target after breakout
◽ If gap down / flat open happens then Support level is at 17820-17800
-with the SL of 17880
- 17700 we can see as target after breakdown
◽If gap up opened then support level will be 17900
- we can see target of 17800 with SL of 17950
🛑 Rules to follow
* avoid trade if market opens above/ below our levels
- in other words , avoid if market opens at or above our resistance zone (Huge GAP up)
- Avoid if market opens at or below our support zone (Huge GAP down)
(reason behind avoiding trade because market don't like gaps it will try to fill the gaps )
*if huge gap UP or DOWN happens then we have to just wait for price action and until fill the gap then we can take trade
*initiate the trade by using 5mins time frame chart ,
-if breakout happens and 5min candle closed above mentioned level then initiate trade
- if breakdown happens and 5min candle closed below mentioned level then initiate trade
(so point is candle must as close above / below our mentioned levels then initiate trade ,
while operating SL also same candle as to close below the levels)
* After initiating the trade we must have to wait until it will hit either TARGET or STOP LOSS
*initiate trade after immediate breakout / breakdown(possibility making profit is higher)
◽or one can initiate after retesting the level (possibility making profit is lower)
◽i hope that it will help a lot
do like , follow for daily updates
- Trading above 50,100 DMA
-NIFTY weekly pivot point 18004.5
🛑 Key levels to watch out for intraday traders :-
◽ Resistance is at 18000-18050
-with SL of 18000
- 18120 we can see as the target after breakout
◽ If gap down / flat open happens then Support level is at 17820-17800
-with the SL of 17880
- 17700 we can see as target after breakdown
◽If gap up opened then support level will be 17900
- we can see target of 17800 with SL of 17950
🛑 Rules to follow
* avoid trade if market opens above/ below our levels
- in other words , avoid if market opens at or above our resistance zone (Huge GAP up)
- Avoid if market opens at or below our support zone (Huge GAP down)
(reason behind avoiding trade because market don't like gaps it will try to fill the gaps )
*if huge gap UP or DOWN happens then we have to just wait for price action and until fill the gap then we can take trade
*initiate the trade by using 5mins time frame chart ,
-if breakout happens and 5min candle closed above mentioned level then initiate trade
- if breakdown happens and 5min candle closed below mentioned level then initiate trade
(so point is candle must as close above / below our mentioned levels then initiate trade ,
while operating SL also same candle as to close below the levels)
* After initiating the trade we must have to wait until it will hit either TARGET or STOP LOSS
*initiate trade after immediate breakout / breakdown(possibility making profit is higher)
◽or one can initiate after retesting the level (possibility making profit is lower)
◽i hope that it will help a lot
do like , follow for daily updates
