NIFTY Intraday Trade Setup For 22 Sep 2023
Bullish-Above 19790
Invalid-Below 19740
T- 19915 20010
Bearish-Below 19700
Invalid-Above 19750
T- 19595 19490
NIFTY has closed on bearish note with 0.8% cut today. It opened with a slight gap down directly below our sell level. 10 o'clock range was to be used as per our trade setup. Range broke downside below 19763 and last swing high was near 19793. With 30 points risk it gave 50+ Points gain till 19710. Yesterday it was discussed that there is a chance of recover but for that it has to trigger our buy level. So the condition is for tomorrow. In case of a gap up 19900-20 will act as resistance .
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19790 then we will long for the target for 19915-20 and above this 20010.
For selling we need a 15 Min candle close below 19700. T- 19595 and 19490.
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 19790
Invalid-Below 19740
T- 19915 20010
Bearish-Below 19700
Invalid-Above 19750
T- 19595 19490
NIFTY has closed on bearish note with 0.8% cut today. It opened with a slight gap down directly below our sell level. 10 o'clock range was to be used as per our trade setup. Range broke downside below 19763 and last swing high was near 19793. With 30 points risk it gave 50+ Points gain till 19710. Yesterday it was discussed that there is a chance of recover but for that it has to trigger our buy level. So the condition is for tomorrow. In case of a gap up 19900-20 will act as resistance .
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19790 then we will long for the target for 19915-20 and above this 20010.
For selling we need a 15 Min candle close below 19700. T- 19595 and 19490.
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.
Trade active:
Close the short trade at cost as it is showing some reversal sign
