Nifty Intraday Trade Setup for 17th April

Apr 17, 2020

Good Morning everyone,

Yesterday we have seen a slow and steady up move but nifty failed to break and sustain above 9060 . This was an Important level for today setup but SGX nifty is up more then 200 points in this Morning. We are going to see a gap up today for sure.

Global Market Impact
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A- DOW is steady and has no clear move. Neither upside nor downside.
B- SGX Nifty is Up more than 200+ Point.
C- Gap Up expected in Our Nifty

Let's see how our Market Reacts today on the above Scenario.

Nifty key Resistance area is 9260 and this is an important level.

Trade setup for 16th April
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Buy Nifty above 9430
Stop loss : 9250
Target : Open

Sell Position is tricky as 2 levels come in sell side .
1- If you see a gap up and Nifty test 9250 level again then you can setup a short position there with tight sl ( 50 points). target is huge in downside.
2 - Second Position is sell lower than 8800 ..

Apr 17, 2020

Trade closed: target reached