NIFTY has closed on a positive note with decent gain of 0.65% gain. Today it was a slight gap up opening. Nothing triggered as per trade setup. Trigger levels or marked support and resistance worked very accurately. Whole day it traded between 10 o'clock range high and low. There were only 2 trades as per marked support and resistance. Early morning it was sell from resistance and later buy from support. There were evident signals on those junctures also. Weekly candle has recovered more than 50% of the last big red candle.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 18150 then we will long for the target of 18240 and 18340.
For selling we need a 15 min candle close below 18070. Target will be 17970. Below 17960 we can test 17870.
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.
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