NIFTY INTRDAY Trade setup as on 21/02/2022 ON 15 MIN CHART.
1> Nifty trade at consolidation area last 2 session between 17250 to 17375 with narrow range and low volume, indicate traders are indecision of trade either side may be due to global uncertainty of Russia Ukraine crises.
2. Currently trendline support seen on 15 chart at last session closing 17275 .
3. monday session if consolidation and trendline break 1st 1 hour then nifty strong bearish to downside level 17050 and 16850
if more sharp fall any bad news .
3. if global situation stable and india vix stand positive, if consolidation breakout upside nifty will go upword to 17370 and 17500 Further up move but 1st consolidation breakout must seen above 17370 for confirmation .
4 RSI seen arond 40 but negative turn. if slide down will confirm downtrend.. bullish above 60 .
*** THIS IDEA IS FOR EDUCATIONAL PURPOSE
HAPPY TRADING. !!