NIFTY Intraday Trade Setup For 23 May 2023

NIFTY Intraday Trade Setup For 23 May 2023

Buy-Above 18340
Sl- 18290
T- 18420 18503

Sell-Below 18250
Sl-18300
T- 18153 18060

NIFTY has closed on a bullish note with 0.61% gain today. Last day we already anticipated this bullishness after we got a Pin bar in daily charts. Buy triggered as per trade setup above 18220 and hit our 1st target very smoothly (18220-18335). Once again bullishness will continue above today's high- 18340. Index will change hourly structure below 18060. Early sign of sentimental halt will be on a daily candle close below PDL. Next intraday resistance will be near 18500.

Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 18340 then we will long for the target of 18420 and 18503.

For selling we need a 15 Min candle close below 18250. T- 18153 and 18060.

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.