NIFTY Intraday Trade Setup For 17 Apr 2023
Buy-Above 17845
Sl-17795
T- 17930 18035
Sell-Below 17729
Sl-17780
T- 17639 17550
NIFTY has closed on a flat note last day and formed a hanging man in daily TF. If the next immediate candle closes below its low then below that red candle's low it will initiate the pullback move of the sharp up move. Also we we have been trailing our longs with TSL as PDL (CB) which is also intact now. Also we have initiated a mid term bullish momentum just after we got a morning star in weekly TF which was near 0.58 FIB ration also. We have breached previous month's high also. So after a pullback we will start the next round of up move. As 'pullback is the fuel for the impulse'.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17845 then we will long for the target of 17930 and 18035.
For selling we need a 15 Min candle close below 17729. T- 17639 and 17550.
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 17845
Sl-17795
T- 17930 18035
Sell-Below 17729
Sl-17780
T- 17639 17550
NIFTY has closed on a flat note last day and formed a hanging man in daily TF. If the next immediate candle closes below its low then below that red candle's low it will initiate the pullback move of the sharp up move. Also we we have been trailing our longs with TSL as PDL (CB) which is also intact now. Also we have initiated a mid term bullish momentum just after we got a morning star in weekly TF which was near 0.58 FIB ration also. We have breached previous month's high also. So after a pullback we will start the next round of up move. As 'pullback is the fuel for the impulse'.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17845 then we will long for the target of 17930 and 18035.
For selling we need a 15 Min candle close below 17729. T- 17639 and 17550.
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.
