NIFTY Intraday Trade Setup For 20 Apr 2022
Sell_1- Below 16820
Sl-16870
T-17700 16600
Sell_2-From 17100
Sl-17150
T-17000 16900
NIFTY has closed below 17000 today. Fall from 18100 continues. After the doji candle in weekly TF got activated below its low 17600, continuous trendy move is being seen. No sign of reversal yet, so be in selling. One can partial profit in the positional short from 17600. Next stop seems near 17600.
Coming to tomorrow's trade setup, we will avoid buying and sell the continuation. If a 15 Min candle closes below 16824 and its low is breached then sell for the target of 16700 and 16600. 0.618 lies at 16600. Breakdown of 16800 is violation of 200 EMA in daily TF.
In case some reversal sign is spotted near 17100. Sell from here with a small sl. Targets will be 17000 and 16900.
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- Below 16820
Sl-16870
T-17700 16600
Sell_2-From 17100
Sl-17150
T-17000 16900
NIFTY has closed below 17000 today. Fall from 18100 continues. After the doji candle in weekly TF got activated below its low 17600, continuous trendy move is being seen. No sign of reversal yet, so be in selling. One can partial profit in the positional short from 17600. Next stop seems near 17600.
Coming to tomorrow's trade setup, we will avoid buying and sell the continuation. If a 15 Min candle closes below 16824 and its low is breached then sell for the target of 16700 and 16600. 0.618 lies at 16600. Breakdown of 16800 is violation of 200 EMA in daily TF.
In case some reversal sign is spotted near 17100. Sell from here with a small sl. Targets will be 17000 and 16900.
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.
