NIFTY Intraday Trade Setup For 16 Aug 2023
Bullish-Above 19470
Invalid-Below 19420
T- 19560 19655
Bearish-Below 19340
Invalid-Above 19390
T- 19250 19150
NIFTY has closed absolutely flat today. It opened with a small gap down, below our sell level and fun fact is that 1st target was achieved in the 1st candle itself. Later it shot up till day high from the 1st support zone. 10 o'clock range broke upside, gave around 70 points gain. It has formed a Pin bar candle in daily TF so above 19470 we can expect bullishness. For fast downside move level is 19250 while we will short below 19340.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19470 then we will long for the target of 19560 and 19655.
For selling we need a 15 Min candle close below 19340. T- 19250 an 19150.
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.
Bullish-Above 19470
Invalid-Below 19420
T- 19560 19655
Bearish-Below 19340
Invalid-Above 19390
T- 19250 19150
NIFTY has closed absolutely flat today. It opened with a small gap down, below our sell level and fun fact is that 1st target was achieved in the 1st candle itself. Later it shot up till day high from the 1st support zone. 10 o'clock range broke upside, gave around 70 points gain. It has formed a Pin bar candle in daily TF so above 19470 we can expect bullishness. For fast downside move level is 19250 while we will short below 19340.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19470 then we will long for the target of 19560 and 19655.
For selling we need a 15 Min candle close below 19340. T- 19250 an 19150.
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.
