NIFTY Intraday Trade Setup For 31 Aug 2023
Sell_1- From 19410
Invalid-Above 19460
T- 19345 18280
Sell_2- Below 19330
Invalid-Above 19380
T- 19230 19105
NIFTY has closed on an absolute flat note today after a roller coaster ride. It opened with a big gap up today and as per our trade setup 10 o'clock range was to be used. Initially 10 o'clock range broke above 19441 and last swing low was 19425, so around 16 points sl was hit. Later range broke downside below 19407 and last swing high was 19431, so with 25 points sl it gave 70 points straight move till gap area. I have been updating that although we have short position from 19560, index will give a straight move below 19220 only. In between it will be sideways.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes below 19330 then we will short for the target of 19230 and 19105.
In case of a gap up 19410 is tested in the first hour then we will plan a short from there. T- 19345 and 19280.
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.
Sell_1- From 19410
Invalid-Above 19460
T- 19345 18280
Sell_2- Below 19330
Invalid-Above 19380
T- 19230 19105
NIFTY has closed on an absolute flat note today after a roller coaster ride. It opened with a big gap up today and as per our trade setup 10 o'clock range was to be used. Initially 10 o'clock range broke above 19441 and last swing low was 19425, so around 16 points sl was hit. Later range broke downside below 19407 and last swing high was 19431, so with 25 points sl it gave 70 points straight move till gap area. I have been updating that although we have short position from 19560, index will give a straight move below 19220 only. In between it will be sideways.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes below 19330 then we will short for the target of 19230 and 19105.
In case of a gap up 19410 is tested in the first hour then we will plan a short from there. T- 19345 and 19280.
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.
