NIFTY Intraday Trade Setup For 23 Feb 2023
Buy-Above 17595
Sl-17545
T- 17650 17700+
Sell-Below 17525
Sl-17575
T-17440 17350
NIFTY has once again closed on a bearish sentiment with 1.53% cut. Since last 5 trading sessions it has been in bear's grip. It was told that on Sunday that below PDL it will maintain and continue the bearish trend. So has happened till now. Today it opened gap down below our sell levels. 10 o'clock range broke downside below 17670 and previous swing high was 17696. Low made is 17530. It gave 140 points gain with less than 30 points sl. It was clear move as no previous swing high was tested till day low. Once again it has closed near day low. So below day low bearish sentiment will be on. Also be alert and tight in trailing as it can give pullback of the whole down move also.
Important intraday resistance in the upside will be near 17700.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17595 then we will long for the target of 17650 and 17700.
For selling we need a 15 Min candle close below 17525. T- 17440 and 17350.
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 17595
Sl-17545
T- 17650 17700+
Sell-Below 17525
Sl-17575
T-17440 17350
NIFTY has once again closed on a bearish sentiment with 1.53% cut. Since last 5 trading sessions it has been in bear's grip. It was told that on Sunday that below PDL it will maintain and continue the bearish trend. So has happened till now. Today it opened gap down below our sell levels. 10 o'clock range broke downside below 17670 and previous swing high was 17696. Low made is 17530. It gave 140 points gain with less than 30 points sl. It was clear move as no previous swing high was tested till day low. Once again it has closed near day low. So below day low bearish sentiment will be on. Also be alert and tight in trailing as it can give pullback of the whole down move also.
Important intraday resistance in the upside will be near 17700.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17595 then we will long for the target of 17650 and 17700.
For selling we need a 15 Min candle close below 17525. T- 17440 and 17350.
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.
