NIFTY has given a bold bullish close on Friday, it closed with 1.78% gain at last day. Our swing long position is intact which was triggered on 18 Oct @ 17430 for the target of 18645+. After hitting our our 1st mini target (18100) we have changed our trailing method from PDL to last swing lows in daily TF. As of now the last swing low is 17950, we can start shifting gradually. We are close to our target , chances are that we will hit in this week itself. For any kind of reversal we need a bearish price structure (M) in daily TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18365 then we will long for the target of 18450, 18550 and 18645. Keep strict trailing as per RR.
For selling we need a 15 Min candle close below 18305. Target will be 18205, 18105 and 18025.
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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