Nifty Midcap Intraday- 11/04/2025- How I traded a long position

Nifty Midcap (April 11 2025)

I am publishing my trade setup that I took today (April 11th 2025).

*The charts reflects candlesticks of 15mins time frame.

*Scenario on April 1st:
April 1st low (11,360) is considered as a support, because the market couldn't break this low in the next 2 trading sessions (April 2nd , April 3rd)

*Scenario on April 2nd:
The market on April 2nd sustained above 11,360

*Scenario on April 3rd:
The market on April 3rd sustained above 11,360

*Scenario on April 4th:
April 4th - The market broke the April 1st support of 11,360. The Support of 11,360 now becomes resistance.

*Scenario on April 7th:
April 7th broke the low of April 4th (11,140). Hence support 11,140 becomes resistance.
On April 7th market sees significant buying and creates a high of 10,830 and this becomes resistance.

*Scenario on April 8th & April 9th:
Markets sustain above 10,830.
10,830 now becomes support
Market is unable to break previous resistance of 11,140.

*Scenario on April 11th:
Market sustains above 11,140 and this resistance becomes support. Since the market opens in gapup, I wait for the market to retrace back to 11,140 and create a reversal pattern in 15minutes time frame. This zone has been circled. A long position was created and I sold puts.

Trade setup:
The low of the reversal setup shown in circle was used as a stop loss and a long position was created. As per 1:2 risk reward ratio I booked profits once the market reached the intraday swing high of the downward move on April 4th since this is the 1st resistance zone before the market can reach 11,360.

Trading time:
Trade setup entry time: 11.00am
Trade setup exit time: 12.30pm
Total time from entry to exit = 1.5 hours

Conclusion:
This publishing is not an attempt to showcase or boast a successful trade of mine. A trader's significant learning curve comes mostly from unsuccessful trades. Its my intention to draw attention to the fact that intraday trading requires practise, patience, trade setup and an emotionless decision making attitude to book profits and loss. Greed and fear plays a significant role and can impair a trader's judgement when disciple takes a backseat. Had I not exited as per 1:2 risk reward ratio, my profits would have come down as the markets retraced a bit down by the end of the session.

When my trading setup is based on 1:2 risk reward ratio, I stick to it. One of the significant reason behind survival of any trader in the markets.

Wishing you the very best and a safe trading.

Regards,
Uday

Disclaimer: I am not a SEBI registered analyst. The above information is only for educational purpose based on my years of experience. Please consult a financial advisor before investing.