NIFTY Intraday Trade Setup For 17 Aug 2022
NIFTY Intraday Trade Setup For 17 Aug 2022
Buy-Above 17840
Sl-17790
T-17890 17953 18000
Sell-Below 17764
Sl-17710 17665
NIFTY has closed on a positive sentiment with 0.72% gain. More than half of the gain came via gap up. It has traded in a 70 points range in intraday. We will use this range to trade on breakout either side. 0.886 a harmonic level is placed at 17845. A swing high can be created from this level. However above 17850 if it sustain then we will head higher.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 17840. We will long for the target of 17890, 17953 and 18000.
If a 15 Min candle closes below 17764, we will short for the target near 17700 then 17660.
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.
Always trade sl in this place as index is at a place where profit booking can take place but bulls are too aggressive also.
Buy-Above 17840
Sl-17790
T-17890 17953 18000
Sell-Below 17764
Sl-17710 17665
NIFTY has closed on a positive sentiment with 0.72% gain. More than half of the gain came via gap up. It has traded in a 70 points range in intraday. We will use this range to trade on breakout either side. 0.886 a harmonic level is placed at 17845. A swing high can be created from this level. However above 17850 if it sustain then we will head higher.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 17840. We will long for the target of 17890, 17953 and 18000.
If a 15 Min candle closes below 17764, we will short for the target near 17700 then 17660.
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.
Always trade sl in this place as index is at a place where profit booking can take place but bulls are too aggressive also.
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