NIFTY Intraday Trade Setup For 20 Jun 2023
Buy-Above 18800
Sl-18750
T- 18890 18975
Sell-Below 18715
Sl-18765
T- 18649 18580
NIFTY has closed on a bearish note with 0.37% cut today. It was in a selling mode since the 1st candle. Sell triggered below 18805 and hit our 1st target very smoothly. Trade gave more than 80 points gain. Index is sideways inside the rising wedge consolidation. Below today's low - 18715 there will be a breakdown scenario of the rising wedge pattern in hourly TF. However we need a proper reversal structure in daily TF to consider that. Above 18800 we will hit a fresh ATH near 19058.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 18800 then we will long for the target of 18890 and 18975.
For selling we need a 15 Min candle close below 18715. T- 18649 and 18580.
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 18800
Sl-18750
T- 18890 18975
Sell-Below 18715
Sl-18765
T- 18649 18580
NIFTY has closed on a bearish note with 0.37% cut today. It was in a selling mode since the 1st candle. Sell triggered below 18805 and hit our 1st target very smoothly. Trade gave more than 80 points gain. Index is sideways inside the rising wedge consolidation. Below today's low - 18715 there will be a breakdown scenario of the rising wedge pattern in hourly TF. However we need a proper reversal structure in daily TF to consider that. Above 18800 we will hit a fresh ATH near 19058.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 18800 then we will long for the target of 18890 and 18975.
For selling we need a 15 Min candle close below 18715. T- 18649 and 18580.
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.
