NIFTY Intraday Trade Setup For 20 Oct 2022

NIFTY Intraday Trade Setup For 20 Oct 2022

Buy-Above 17560
Sl-17510
T- 17630 17720 17808

Sell-Below 17470
Sl-17525
T-17390 17340 17290

NIFTY has closed on a flat note with 25 points gain today. Last day we planned buy above 17530 which almost hit our 1st target and gave 70 points gain. Later 10 o'clock range broke downside and gave 60 points in downside. Closing is flat so any side move will come the next day.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17560 then we will long for the target of 17610-30. Next targets will be 17720 and 17808.

For selling we need a 15 Min candle close below 17470. Target will be 17390, 17340 and 17290. Be strict with trailing (cost) with RR ratio.

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.