NIFTY Intraday Trade Setup For 19 May 2022

NIFTY Intraday Trade Setup For 19 May 2022

Buy-Above 16400
Sl-16350
T-16500 16600 16700

Sell-Below 16200
Sl-16250
T-16080 15980 15900

NIFTY has closed almost flat on Wednesday. We planned to buy above 16285 for the target of 16400 and above. Gave 100 points and reversal from our PRZ at 16400. Both moves were clear.

Coming to tomorrow's trade setup:- Index has closed at day low. So, We will sell below 16210 if a 15 min candle closes below. Target will be 16080, 16000 and 15900. Book max at 15900.

Build a long position above 16400. This can trigger a short covering move and pull NIFTY till 16700. Book max at 16700.

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.

Intraday Support- 15900
Intraday Resistance-16400

Hourly Support- 15700
Hourly Resistance-16700