NIFTY Intraday Trade Setup For 31 Jul 2023
Bullish-Above 19670
Invalid-Below 19620
T- 19755 19845
Bearish-Below 19560
Invalid-Above 19610
T-19470 19380
NIFTY has taken a pause in the bull run after hitting psychological zone of 20k which was also our buy target which we bought from 18460 for swing. A pullback is very logical after an impulse. This pullback/down move will be initiated below 19560,level is this and last week's low. It can test 18750 zone in this case. However I feel that we have to eat this in pieces.
It has formed a Pin bar candle on last session. So on a flat opening we can expect some bullish moment above 19670 tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19670 then we will long for the target of 19755 and 19845.
For selling we need a 15 Min candle close below 19560. T- 19470 and 19380.
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.
Bullish-Above 19670
Invalid-Below 19620
T- 19755 19845
Bearish-Below 19560
Invalid-Above 19610
T-19470 19380
NIFTY has taken a pause in the bull run after hitting psychological zone of 20k which was also our buy target which we bought from 18460 for swing. A pullback is very logical after an impulse. This pullback/down move will be initiated below 19560,level is this and last week's low. It can test 18750 zone in this case. However I feel that we have to eat this in pieces.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19670 then we will long for the target of 19755 and 19845.
For selling we need a 15 Min candle close below 19560. T- 19470 and 19380.
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.
