NIFTY Intraday Trade Setup For 17 Aug 2023
Bullish-Above 19485
Invalid-Below 19435
T- 19570 19655
Bearish-Below 19410
Invalid-Above 19460
T- 19331 19250
NIFTY has closed on a slight bullish note with 0.16% gain today. It opened with a decent gap down but after the 1st 15 Min candle liquidity was grabbed and it recovered. However sell was not triggered as per trade setup. Later 10 o'clock range broke upside above 19390 and gave almost 90 points gain, initially it hunted sl and in the 2nd attempt it went in flow. Above 19485 if sustained we get a good upside move which will be based on 19500 CE short covering. 19410 is the downside level.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19485 then we will long for the target of 19570 and 19655.
For selling we need a 15 min candle close below 19410. T- 19331 and 19250.
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.
Bullish-Above 19485
Invalid-Below 19435
T- 19570 19655
Bearish-Below 19410
Invalid-Above 19460
T- 19331 19250
NIFTY has closed on a slight bullish note with 0.16% gain today. It opened with a decent gap down but after the 1st 15 Min candle liquidity was grabbed and it recovered. However sell was not triggered as per trade setup. Later 10 o'clock range broke upside above 19390 and gave almost 90 points gain, initially it hunted sl and in the 2nd attempt it went in flow. Above 19485 if sustained we get a good upside move which will be based on 19500 CE short covering. 19410 is the downside level.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19485 then we will long for the target of 19570 and 19655.
For selling we need a 15 min candle close below 19410. T- 19331 and 19250.
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.
