NIFTY Intraday Trade Setup For 17 Jul 2023

NIFTY Intraday Trade Setup For 17 Jul 2023

Buy-Above 19600
Sl-19550
T- 19705 19802

Sell-Below 19480
Sl-19530
T- 19384 19300

Yet another bullish week added in our gains in NIFTY. It closed with 1.2% gain last week. Our swing long position from 18460 is still intact. Above 18900 we opted PDL as TSL. If a daily candle closes below PDL and that red candle's low is breached then we will exit our long. Till then ride the momentum till it is. There will be a chance of reversal only when our TSL is hit. So there is no point in contra view. A trendline has been plotted on 15 Min TF, post rejection it will be a breakout.

Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 19600 then we will long for the target of 19705 and 19802.

For selling we need a 15 Min candle close below 19480. T- 19384 and 19300.

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.

Trade active:

NIFTY- perfectly worked as per view. Small pullback given from trendline and then buy triggered above 19600 and hit 1st target.

19600-19731+