NIFTY Intraday Trade Setup For 18 Sep 2023
Bullish-Above 20225
Invalid-Below 20175
T- 20315 20405
Bearish-Below 20125
Invalid-Above 20175
T- 20030 19910
NIFTY has closed on a bullish note last week with 1.88% gain. Our swing long position is still on with TSL. On 4 Sep EOD we planned a bullish view when closed above 19500 in daily TF. Our Confirmation level was 19600, as of now it has given around 600 points gain which is slight more than 1:1.5. Also we opted PDL as our TSL. If a daily candle closes below PDL and then next day below that red candle's low we will exit our longs. On Monday if we open gap down then 20030 can be a good support.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 20225 then we will long for the target of 20315 and 20405.
For selling we need a 15 Min candle close below 20125. T- 20030 and 19910.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 20225
Invalid-Below 20175
T- 20315 20405
Bearish-Below 20125
Invalid-Above 20175
T- 20030 19910
NIFTY has closed on a bullish note last week with 1.88% gain. Our swing long position is still on with TSL. On 4 Sep EOD we planned a bullish view when closed above 19500 in daily TF. Our Confirmation level was 19600, as of now it has given around 600 points gain which is slight more than 1:1.5. Also we opted PDL as our TSL. If a daily candle closes below PDL and then next day below that red candle's low we will exit our longs. On Monday if we open gap down then 20030 can be a good support.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 20225 then we will long for the target of 20315 and 20405.
For selling we need a 15 Min candle close below 20125. T- 20030 and 19910.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
