NIFTY Intraday Trade Setup For 31 Jan 2023
Buy-Above 17710
Sl-17660
T- 17805 17900+
Sell-Below 17405
Sl-17455
T-17285 17165
NIFTY has closed on a mild bullish sentiment with 0.25% today. This was yet another volatile day ahead of Union Budget. It made wild swings of 260 points up, 300 points down and then again 260 points up. It opened with 60 points gap down and then traded inside 10 o'clock range overall. After a complete parabolic down move of almost 800 points now it is showing signs of pause as it is likely to give a pullback, small or big. Tomorrow's closing is important for the Budget day as per technical however sentimental will be overpowered.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17710 then we will long for the target of 17805 and 17900+.
For selling we need a 15 min candle close below 17405.T- 17285 and 17165. 17508 is important to watch as intraday support.
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.
Buy-Above 17710
Sl-17660
T- 17805 17900+
Sell-Below 17405
Sl-17455
T-17285 17165
NIFTY has closed on a mild bullish sentiment with 0.25% today. This was yet another volatile day ahead of Union Budget. It made wild swings of 260 points up, 300 points down and then again 260 points up. It opened with 60 points gap down and then traded inside 10 o'clock range overall. After a complete parabolic down move of almost 800 points now it is showing signs of pause as it is likely to give a pullback, small or big. Tomorrow's closing is important for the Budget day as per technical however sentimental will be overpowered.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17710 then we will long for the target of 17805 and 17900+.
For selling we need a 15 min candle close below 17405.T- 17285 and 17165. 17508 is important to watch as intraday support.
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.
