NIFTY Intraday Trade Setup For 18 Apr 2023
Buy-Above 17720
Sl-17670
T-17801 17875
Sell-Below 17650
Sl-17700
T- 17570 17497
NIFTY has closed on bearish sentiment with 0.618% cut . In the weekend it was told that we are going to give a pullback of the up move and with no surprise it was triggered today . As said 'pullback is the fuel for impulse' so after this pullback above 17865 the next impulsive leg will be triggered in the upside. While below today's low it can test 17425 and may form a base or Higher low in this region. Today sell triggered and more than 1:1 as the 1st Min candle was just too big although sell triggered.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17720 then we will long for the target of 17801 and 17875.
For selling we need a 15 Min candle close below 17650. T- 17570 and 17497. Ext T- 17425.
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 17720
Sl-17670
T-17801 17875
Sell-Below 17650
Sl-17700
T- 17570 17497
NIFTY has closed on bearish sentiment with 0.618% cut . In the weekend it was told that we are going to give a pullback of the up move and with no surprise it was triggered today . As said 'pullback is the fuel for impulse' so after this pullback above 17865 the next impulsive leg will be triggered in the upside. While below today's low it can test 17425 and may form a base or Higher low in this region. Today sell triggered and more than 1:1 as the 1st Min candle was just too big although sell triggered.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17720 then we will long for the target of 17801 and 17875.
For selling we need a 15 Min candle close below 17650. T- 17570 and 17497. Ext T- 17425.
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.
