NIFTY Intraday Trade Setup For 23 Oct 2023 || Daily Analysis
NIFTY Intraday Trade Setup For 23 Oct 2023
Bullish-Above 19570
Invalid-Below 19520
T-19681 19812
Bearish-Below 19510
Invalid-Above 19560
T- 19418 19330
NIFTY has closed on a bearish note last with 1%cut last week. It has once again came to 19500 zone after a bounce last week. 19500 is very important for a trendy downside move. But it will be best if the breakout happens with flat opening. This has to be observed in hourly and daily TF. On successful breakout it will head towards 18970. 19510 and 19570 are important levels for tomorrow's session. Last hourly swing high is 19685 so above which there is a chance of bullish reversal. 19300-30 is a string intraday support
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19570 then we will long for the target of 19680 and 19812.
For selling we need a 15 Min candle close below 19510. T- 19418 and 19330.
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 19570
Invalid-Below 19520
T-19681 19812
Bearish-Below 19510
Invalid-Above 19560
T- 19418 19330
NIFTY has closed on a bearish note last with 1%cut last week. It has once again came to 19500 zone after a bounce last week. 19500 is very important for a trendy downside move. But it will be best if the breakout happens with flat opening. This has to be observed in hourly and daily TF. On successful breakout it will head towards 18970. 19510 and 19570 are important levels for tomorrow's session. Last hourly swing high is 19685 so above which there is a chance of bullish reversal. 19300-30 is a string intraday support
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19570 then we will long for the target of 19680 and 19812.
For selling we need a 15 Min candle close below 19510. T- 19418 and 19330.
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.
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