NIFTY Intraday Trade Setup For 17 Oct 2022
Buy-Above 17350
Sl-17300
T-17430 17530
Sell-Below 17169
Sl-17225
T- 17050 16950
NIFTY has closed on a negative note on Friday with positive gains (1%) which came only via a big gap up. Important levels are 17430 and 17440. This range breakout will give us the next directional move. Above 17430 we will hit 18100 and a fresh ATH. Below 17440 we will hit 16066. Till then avoid taking any overnight positions in index as index is having no trend as of now. Testing today's high will be the 1st indication of bullish momentum which will start above 17430.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17350 then we will long for the target of 17430 and 17530.
If a 5/15 Min candle closes below 17169 then we will short for the target of 17050 and 16950. A pullback/bounce will be considered before breakdown of 17169.
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 17350
Sl-17300
T-17430 17530
Sell-Below 17169
Sl-17225
T- 17050 16950
NIFTY has closed on a negative note on Friday with positive gains (1%) which came only via a big gap up. Important levels are 17430 and 17440. This range breakout will give us the next directional move. Above 17430 we will hit 18100 and a fresh ATH. Below 17440 we will hit 16066. Till then avoid taking any overnight positions in index as index is having no trend as of now. Testing today's high will be the 1st indication of bullish momentum which will start above 17430.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17350 then we will long for the target of 17430 and 17530.
If a 5/15 Min candle closes below 17169 then we will short for the target of 17050 and 16950. A pullback/bounce will be considered before breakdown of 17169.
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.
