NIFTY Intraday Trade Setup For 30 Jan 2023

NSE:NIFTY   Nifty 50 Index
NIFTY Intraday Trade Setup For 30 Jan 2023

Buy-Above 17635
T- 17745 17850

Sell-Below 17490
T- 17395 17295 17165

NIFTY has closed on a bearish sentiment last day and last week. Last week it closed with 2.35% cut. A parabolic down move was seen last week. Weekly range which was valid for last 1 month shifted last week. After a pullback below the recent swing low it is likely to continue its down move till projected target which was discussed on 13 Jan 2023. As of now its a complete parabolic move which can be seen across TF be it daily, hourly, 15 Min or even 5 Min. So we are likely to give pullback of the whole down move. Initial pullback can come till 17850 and this will be confirmed with bullish price action in 5/15 Min TF.

Coming to Monday's trade setup if index opens flat and a 15 Min candle closes above 17635 then we will long for the target of 17745 and 17850.

For selling we need a 15 Min candle close below 17490. T- 17395,17295 and extended target will be 17165.

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.


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