NIFTY Intraday Trade Setup For 23 Mar 2022
Buy-Above 17360
Sl-17310
T-17490 17580
Sell-Below 17230
Sl-17280
T-17130 17070
NIFTY has made a bullish engulfing candle. Entire fall of yesterday is regained. We planned to short below 17090. Our 1st target was hit. It gave 70+ points profit. Then a double bottom was formed near 17000. Bulls took charge after neckline of 17085 was taken out. Index shot till 17330 and closed at day high.
Index has made a range of 17000 in lower side and 17360 in the upper side. We will simply trade on the range breakout/breakdown. As it has closed near the upper zone. So, we will buy above 17360 if a 5 Min candle close above 17360. Target Will be near 17500. However it may give move till 17700 and 17800 in the coming day.
No aggressive selling till 17000 is safe. However we will plan for a sell trade below 17230 if a 15 Min candle closes below this. Target will be 17130 and 17070. Below 17000 we will get a good downside move.
In case of a big gap up/down. Wait till 10 o'clock and trade that range breakout/down.
Buy-Above 17360
Sl-17310
T-17490 17580
Sell-Below 17230
Sl-17280
T-17130 17070
NIFTY has made a bullish engulfing candle. Entire fall of yesterday is regained. We planned to short below 17090. Our 1st target was hit. It gave 70+ points profit. Then a double bottom was formed near 17000. Bulls took charge after neckline of 17085 was taken out. Index shot till 17330 and closed at day high.
Index has made a range of 17000 in lower side and 17360 in the upper side. We will simply trade on the range breakout/breakdown. As it has closed near the upper zone. So, we will buy above 17360 if a 5 Min candle close above 17360. Target Will be near 17500. However it may give move till 17700 and 17800 in the coming day.
No aggressive selling till 17000 is safe. However we will plan for a sell trade below 17230 if a 15 Min candle closes below this. Target will be 17130 and 17070. Below 17000 we will get a good downside move.
In case of a big gap up/down. Wait till 10 o'clock and trade that range breakout/down.
