NIFTY Intraday Trade Setup For 24 Apr 2023
Buy-Above 17665
Sl-17615
T- 17790 17910
Sell-Below 17550
Sl-17600
T- 17450 17370
NIFTY closed on a bearish sentiment last week with 1% cut. On Friday it closed absolutely flat. Last week it was clearly said that a pullback is very much possible and with no surprise we witnessed more around 1.5% fall this week. Moreover it was sideways on close to close basis the last 4 sessions. It has formed a descending triangle in hourly TF, its base line is 17550. Breakdown of this will extend the down move near 17320-40. However the last candle is a small pinbar. Above 17685 if sustained then we may start an impulse. Let market decide which side it sustains.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17665 then we will long for the target of 17790 and 17910.
For selling we need a 15 Min candle close below 17550. T- 17450 and 17370.
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 17665
Sl-17615
T- 17790 17910
Sell-Below 17550
Sl-17600
T- 17450 17370
NIFTY closed on a bearish sentiment last week with 1% cut. On Friday it closed absolutely flat. Last week it was clearly said that a pullback is very much possible and with no surprise we witnessed more around 1.5% fall this week. Moreover it was sideways on close to close basis the last 4 sessions. It has formed a descending triangle in hourly TF, its base line is 17550. Breakdown of this will extend the down move near 17320-40. However the last candle is a small pinbar. Above 17685 if sustained then we may start an impulse. Let market decide which side it sustains.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17665 then we will long for the target of 17790 and 17910.
For selling we need a 15 Min candle close below 17550. T- 17450 and 17370.
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.
