NIFTY Intraday Trade Setup For 20 Mar 2023
Buy-Above 17146
Sl-17095
T- 17270 17455
Sell-Below 17005
Sl-17055
T- 16929 16850
NIFTY has closed a on a bearish sentiment with 1.8% cut last week. Positional sell was triggered below 17760 for the target of 16650-700. Target almost achieved as low made last week is 16850.15. Now the current week is the week for a price action cluster building chances are that we can make a bottom which will be considered on a bullish PA above 17150. However in daily TF it has made consecutive halt candles so after a pullback in hourly TF if we make a proper reversal price action above 17150 then we will switch and sit in the up move which will be updated. Also below current week's low- 16850 we will resume.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17146 then we will long for the target of 17270 and 17455.
For selling we need a 15 Min candle close below 17005. T- 16929 and 16850.
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 17146
Sl-17095
T- 17270 17455
Sell-Below 17005
Sl-17055
T- 16929 16850
NIFTY has closed a on a bearish sentiment with 1.8% cut last week. Positional sell was triggered below 17760 for the target of 16650-700. Target almost achieved as low made last week is 16850.15. Now the current week is the week for a price action cluster building chances are that we can make a bottom which will be considered on a bullish PA above 17150. However in daily TF it has made consecutive halt candles so after a pullback in hourly TF if we make a proper reversal price action above 17150 then we will switch and sit in the up move which will be updated. Also below current week's low- 16850 we will resume.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17146 then we will long for the target of 17270 and 17455.
For selling we need a 15 Min candle close below 17005. T- 16929 and 16850.
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.
