NIFTY Intraday Trade Setup For 20 Sep 2022
Buy-Above 17670
Sl-17615
T-17775 17870 17950
Sell-Below 17579
Sl-17630
T- 17500 17430 17270
NIFTY has closed on a slight positive note with 0.5% gain. Today the range breakout target was hit which was triggered below 17770 on 16 Sep. Last day we planned to short below 17495 this trade gave 60 points but a sharp up move hit our sl then long was triggered @ 17620 as per plan and this trade gave almost 1:1 and then index turned sideways. We will use the range formed to trade on breakout the next day.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 17670 then we will long for the target of 17775, 17870 and 17955+.
For selling we need a 5/15 Min candle close below 17579. Post breakdown targets will be 17490. 17430 and if 17425 is sustained then we will hit 17270.
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 17670
Sl-17615
T-17775 17870 17950
Sell-Below 17579
Sl-17630
T- 17500 17430 17270
NIFTY has closed on a slight positive note with 0.5% gain. Today the range breakout target was hit which was triggered below 17770 on 16 Sep. Last day we planned to short below 17495 this trade gave 60 points but a sharp up move hit our sl then long was triggered @ 17620 as per plan and this trade gave almost 1:1 and then index turned sideways. We will use the range formed to trade on breakout the next day.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 17670 then we will long for the target of 17775, 17870 and 17955+.
For selling we need a 5/15 Min candle close below 17579. Post breakdown targets will be 17490. 17430 and if 17425 is sustained then we will hit 17270.
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.
