NIFTY Intraday Trade Setup For 20 Feb 2023
Buy-Above 17955
Sl-17905
T- 18005 18050
Sell-Below 17880
Sl-17930
T- 17820 17760
NIFTY has closed on a slight bearish sentiment with 0.51% cut on Friday. Weekly candle is almost sideways and is between the range of 18200-300 and 17700. This range has been valid since last 2 Months. This week's high - 18135 is important , above that we may initiate a move which can break the weekly range high. Below 17700 will slide to test previous swing lows.
For Monday 18050 can act as a intraday resistance so if bearish price structure forms there then it can create supply zone there. Important support in the downside below 17760.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17955 then we will long for the target of 18005 and 18050.
For selling we need a 15 Min candle close below 17880. T- 17820 and 17760.
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 17955
Sl-17905
T- 18005 18050
Sell-Below 17880
Sl-17930
T- 17820 17760
NIFTY has closed on a slight bearish sentiment with 0.51% cut on Friday. Weekly candle is almost sideways and is between the range of 18200-300 and 17700. This range has been valid since last 2 Months. This week's high - 18135 is important , above that we may initiate a move which can break the weekly range high. Below 17700 will slide to test previous swing lows.
For Monday 18050 can act as a intraday resistance so if bearish price structure forms there then it can create supply zone there. Important support in the downside below 17760.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17955 then we will long for the target of 18005 and 18050.
For selling we need a 15 Min candle close below 17880. T- 17820 and 17760.
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.
