Nifty 50 Intraday View & Trade Setup for 22 January

22 sty 2021

Nifty Update
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We have seen a dot reversal and huge correction in yesterday's trading session from the hourly harmonic PRZ. The main question is does the negative sentiment will continue or we will see a short-covering today?

In the chart you can see 3 patterns . 2 Were already completed and did their job now third is active and the target of the third pattern (Half Bat) is 14,450 to 14,426. which is still far away from the current level but still need confirmation.

Short
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14560 is the key support for today Intraday short if Index break this level and sustain lower sl is 14600 and Target is : 14,500/14,450/14,430

Long
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Long position can consider only when the pattern failed Level is 14,650 Stop loss : 14,590 Target : 14,700/14,750/14,780

22 sty 2021

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