In this thread i will try and see if we can setup traps for catching some novice traders on the wrong foot and benifit from them.
The basic idea is the same as my other thread; I will identify strong support and resistance levels and based on those provide trading setups. These trading setups will generally be for intraday only. If the setup is valid for multiple days then will let you know in advance.
Todays setup: Please note that all the levels below are Nifty levels and not Nifty current month future levels.
We know that day before yesterday Nifty reverted back sharply from around 2957, and then found support at around 2900. So the setup is simple:
Short above 2950 with SL of 2965 and target of 2910.
Yesterday the market bounced from a low of around 2882 and hit a resistance at around 2930. So the other setup is also pretty simple
Go Long below 2890 with SL 2875 and target of 2920
the setup 1 is a better one in terms of risk rewards.
Sachin
The basic idea is the same as my other thread; I will identify strong support and resistance levels and based on those provide trading setups. These trading setups will generally be for intraday only. If the setup is valid for multiple days then will let you know in advance.
Todays setup: Please note that all the levels below are Nifty levels and not Nifty current month future levels.
We know that day before yesterday Nifty reverted back sharply from around 2957, and then found support at around 2900. So the setup is simple:
Short above 2950 with SL of 2965 and target of 2910.
Yesterday the market bounced from a low of around 2882 and hit a resistance at around 2930. So the other setup is also pretty simple
Go Long below 2890 with SL 2875 and target of 2920
the setup 1 is a better one in terms of risk rewards.
Sachin
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