NIFTY Intraday Trade Setup For 27 Feb 2023
Buy-Above 17486
Sl-17435
T-17565 17640
Sell- Below 17420
Sl-17470
T-17350 17290
NIFTY has closed on a bearish sentiment last week with almost 500 points (2.67%) cut. Last it was explained that below previous week's low we will head lower levels and a good fall can be expected. Till now 300 points have been tanked. Also it has been updated that trend will be strong till we close below PDH which is still untouched. Sentimental halt/reversal will be seen only when we close above PDH. Till then keep trailing and riding.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17486 then we will long for the target of 17565 and 17640.
For selling we need a 15 Min candle close below 17420. T- 17350 and 17290. 17350 is important to watch out as that is the weekly swing low.
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 17486
Sl-17435
T-17565 17640
Sell- Below 17420
Sl-17470
T-17350 17290
NIFTY has closed on a bearish sentiment last week with almost 500 points (2.67%) cut. Last it was explained that below previous week's low we will head lower levels and a good fall can be expected. Till now 300 points have been tanked. Also it has been updated that trend will be strong till we close below PDH which is still untouched. Sentimental halt/reversal will be seen only when we close above PDH. Till then keep trailing and riding.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17486 then we will long for the target of 17565 and 17640.
For selling we need a 15 Min candle close below 17420. T- 17350 and 17290. 17350 is important to watch out as that is the weekly swing low.
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.
