NIFTY Intraday Trade Setup For 16 Feb 2023
Buy-Above 18035
Sl-17985
T- 18115 18228
Sell-Below 17900
Sl-17950
T- 17837 17770
NIFTY has closed once again on a bullish sentiment with 0.48% gain. Last day it was told that above today's high bullish sentiment will continue, so has happened. Today market opened slight gap down and sell triggered below 17895. It gave 40 points and then immediately morning star - 'stop n reverse' formed in 15 Min TF and it was updated to avoid the short trade. Later 10 o'clock range broke upside above 17906 and made a high of 18030. This trade gave more than 120 points with just 35 points sl. Mid way long triggered as per trade setup also and hit 1st target.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18035 then we will long for the target of 18115 and 18228.
For selling we need a 15 Min candle close below 17900. T- 17837 and 17770. Also 17950 is important to watch before 17900.
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.
Buy-Above 18035
Sl-17985
T- 18115 18228
Sell-Below 17900
Sl-17950
T- 17837 17770
NIFTY has closed once again on a bullish sentiment with 0.48% gain. Last day it was told that above today's high bullish sentiment will continue, so has happened. Today market opened slight gap down and sell triggered below 17895. It gave 40 points and then immediately morning star - 'stop n reverse' formed in 15 Min TF and it was updated to avoid the short trade. Later 10 o'clock range broke upside above 17906 and made a high of 18030. This trade gave more than 120 points with just 35 points sl. Mid way long triggered as per trade setup also and hit 1st target.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18035 then we will long for the target of 18115 and 18228.
For selling we need a 15 Min candle close below 17900. T- 17837 and 17770. Also 17950 is important to watch before 17900.
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.
