NIFTY Intraday Trade Setup For 18 Oct 2023 || Daily Analysis
NIFTY Intraday Trade Setup For 18 Oct 2023
Bullish-Above 19850
Invalid-Below 19800
T- 19945 20030
Bearish-Below 19770
Invalid-Above 19820
T- 19680 19595
NIFTY has closed with 0.40% gain today, all contributed by gap up. Yesterday it was discussed that probability to sideways in the coming days is high so has happened today. It opened with a big gap up and turned sideways , for 4 hours it traded between less than 40 points range. Later 10 o'clock range broke downside below 19809 and gave 30 points move with 20 points sl. Tomorrow it can give a very good up move above today's high 19850 and this is the high probability trade.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 19850 then we will long for the target of 19950 and 20030.
For selling we need a 15 min candle close below 19770. T- 19680 and 19595.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 19850
Invalid-Below 19800
T- 19945 20030
Bearish-Below 19770
Invalid-Above 19820
T- 19680 19595
NIFTY has closed with 0.40% gain today, all contributed by gap up. Yesterday it was discussed that probability to sideways in the coming days is high so has happened today. It opened with a big gap up and turned sideways , for 4 hours it traded between less than 40 points range. Later 10 o'clock range broke downside below 19809 and gave 30 points move with 20 points sl. Tomorrow it can give a very good up move above today's high 19850 and this is the high probability trade.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 19850 then we will long for the target of 19950 and 20030.
For selling we need a 15 min candle close below 19770. T- 19680 and 19595.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Trade active:
Sell triggered below 19770 and is at 1st target
19770-19688
19770-19688
