NIFTY Intraday Trade Setup For 23 Jan 2023

NIFTY Intraday Trade Setup For 23 Jan 2023

Buy-Above 18060
Sl-18010
T-18120 18180+

Sell-Below 18015
Sl-18065
T- 17922 17850

NIFTY has closed on a bearish sentiment on Friday with 0.44% cut. The weekly range - 18270 and 17760 is still valid. Its been more than a month NIFTY is contracting in this tight range of 500 points. Range shift targets are already shared a week before. In between it will be swimming pool moves; range bound trading. Market is contracting for an explosive move either side that will be triggered by Union Budget which is in 10 days. There is a holiday in between on 26th Jan.

Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18060 then we will long for the target of 18120 and 18180+

For selling we need a 15 Min candle close below 18015. T- 17922. Post bounce if we slide below 17920 then we will hit 17850.

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.