NIFTY Intraday Trade Setup For 20 Oct 2023 || Daily Analysis
NIFTY Intraday Trade Setup For 20 Oct 2023
Bullish-Above 19685
Invalid-Below 19635
T- 19813 19910
Bearish-Below 19550
Invalid-Above 19600
T- 19435 19330
NIFTY has closed with small cut of 0.24% today. It opened with a big gap down today and as per trade setup 10 o'clock range was to be used. Range broke upside above 19595 and filled the gap . Last swing low was 19555, so around 40 points risk. But the main problem was the breakout candle which was too big when closed which did not fit in RR. Tomorrow 19685 is very important for bulls to take charge to influence the weekly closing. Below 19550 bears will once again start their wild action.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19685 then we will long for the target of 19813 and 19910 above 19825.
For selling we need a 15 Min candle close below 19550. T- 19435 and 19330.
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 19685
Invalid-Below 19635
T- 19813 19910
Bearish-Below 19550
Invalid-Above 19600
T- 19435 19330
NIFTY has closed with small cut of 0.24% today. It opened with a big gap down today and as per trade setup 10 o'clock range was to be used. Range broke upside above 19595 and filled the gap . Last swing low was 19555, so around 40 points risk. But the main problem was the breakout candle which was too big when closed which did not fit in RR. Tomorrow 19685 is very important for bulls to take charge to influence the weekly closing. Below 19550 bears will once again start their wild action.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19685 then we will long for the target of 19813 and 19910 above 19825.
For selling we need a 15 Min candle close below 19550. T- 19435 and 19330.
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.
