NIFTY Intraday Trade Setup For 21 Feb 2022

NIFTY Intraday Trade Setup For 21 Feb 2022

Buy-Above 17310
Sl-17270
T-17360 17400 17470

Sell-Below 17210
Sl-17250
T-17100

NIFTY has been in the range of 17200 and 17500 since last 3 trading session. Simple way to trade range is buy from the range low or from the support zone and sell from the range high. If sl hits in this kind of trade then understand that the range has been shifted. Then apply range breakout trade setup simple.
Range is always good for a big directional move. 1st target after range breakout/breakdown is the range difference. Here in case the range is of 250-270 points. So, we can expect a directional move of around 250 points either side.

Coming to Monday's trade setup, we can buy above 17310 if we get a 5 Min candle close above 17300. 1st target will be around 17380-17400. Above 17400 we will test the range high - near 17490.

For selling if a 15 min candle closes below 17240 then below 17210 we will sell for the target of 17100. 17080 is the PRZ area consider booking profits in that zone. Then a reversal trade can also be done from this area.

In case of a big gap up/down we have to wait till 10 o'clock and then trade that 45 Min range. Also the 1st 15 Min candle will be important in that case.
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