Nifty 50 Intraday Trade Setup for 23rd November 2020

Good Morning everyone,

Hope you all doing good and made good money last week. Nifty 50 is Trading on their Phycological resistance and harmonic PRZ, We had seen the same thing on the 12000 Level. The index is following the same thing at this point. The current Index range is 13030 to 12720. This 300 Points range shows that how many indexes strong since Sep month. We had seen the last major correction in September month after that Index has not given more than 400 points correction in his 2000 Point run. Straight run. In the last Video given you a short from the top in the Intraday. Intraday is very tricky at this point because of this range. Most of up move eaten by the FIIS in Overnight by Trading on sgx Nifty. Let's talk about current affairs.

Trade setup
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Long :
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India 50 is trading on a positive note around 60 Points up from the previous closing .so we can see a gap up opening today but you guys need to consider buying only above 13100. Very Less room in the upside as 13000 is the Phycological resistance followed up with Harmonic PRZ so be alert on Buy-side and buy only above 13100 which is hard to come in the Intraday but I do not want to take risks. Above 13100 we will get a Breakout confirmation and will see another 500-1000 run in the upside. 13100 is valid for the whole week as well.

Short
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An intraday day trade is very tricky in a range-bound market but there is a chance to sell from the top @12960-13000 SL is 13040.
The second confirmation for short is the Intraday Harmonic PRZ in India 50 at level 13013.

Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.

Good Luck and Happy Trading
Virendra Pandey

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