NIFTY Intraday Trade Setup For 20 Jan 2023
Buy-Above 18185
Sl-18135
T-18265 18332
Sell-Below 18060
Sl-18110
T-17981 17921
NIFTY has closed with a slight bearish sentiment today with 0.32% cut. It opened with a gap down due to US markets sell off last night. However selling pressure was seen in the 1st 30 Min later it recovered and tested our sell level as per trade setup. Sell triggered @ 18135 and gave 50 points profit which was 1:1. An inside candle has been formed in daily TF. Above mother candle's high and low there can a fresh move.
Coming to Friday's trade setup, if we open flat and a 15 Min candle closes above 18185 then we will long for the target of 18265 and 18332. Above 18140 on a 15 Min candle bullish momentum will start to build.
For selling we need a 15 Min candle close below 18060. T- 17981 and post bounce if 17980 is sustained then 17920 and below will be the targets.
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 18185
Sl-18135
T-18265 18332
Sell-Below 18060
Sl-18110
T-17981 17921
NIFTY has closed with a slight bearish sentiment today with 0.32% cut. It opened with a gap down due to US markets sell off last night. However selling pressure was seen in the 1st 30 Min later it recovered and tested our sell level as per trade setup. Sell triggered @ 18135 and gave 50 points profit which was 1:1. An inside candle has been formed in daily TF. Above mother candle's high and low there can a fresh move.
Coming to Friday's trade setup, if we open flat and a 15 Min candle closes above 18185 then we will long for the target of 18265 and 18332. Above 18140 on a 15 Min candle bullish momentum will start to build.
For selling we need a 15 Min candle close below 18060. T- 17981 and post bounce if 17980 is sustained then 17920 and below will be the targets.
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.
