NIFTY Intraday Trade Setup For 16 Mar 2023
Buy-Above 17025
Sl-16975
T- 17117 17225
Sell-Below 16935
Sl-16985
T- 18840 16744
NIFTY has closed on a bearish sentiment once gain with 0.42% gain. Our 1st leg of sell has been triggered below 17760. 2nd continuation level told was 17320. Till now it running very smooth as no sign of reversal has been been seen across TFs. There will be sign of reversal when we will close above PDH or make any reversal candle in daily TF. Today it opened with a big gap up directly at our 1st buy target. 10 o'clock range broke downside below 17125 and gave a move till 16940. With 45 points sl it gave more than 180 points.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17025 then we will long for the target of 17117. Above 17125 post rejection if we sustain then we will hit 17225.
For selling we need a 15 Min candle close below 16935. T- 16840 and 16744.
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 17025
Sl-16975
T- 17117 17225
Sell-Below 16935
Sl-16985
T- 18840 16744
NIFTY has closed on a bearish sentiment once gain with 0.42% gain. Our 1st leg of sell has been triggered below 17760. 2nd continuation level told was 17320. Till now it running very smooth as no sign of reversal has been been seen across TFs. There will be sign of reversal when we will close above PDH or make any reversal candle in daily TF. Today it opened with a big gap up directly at our 1st buy target. 10 o'clock range broke downside below 17125 and gave a move till 16940. With 45 points sl it gave more than 180 points.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17025 then we will long for the target of 17117. Above 17125 post rejection if we sustain then we will hit 17225.
For selling we need a 15 Min candle close below 16935. T- 16840 and 16744.
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.
