NIFTY has closed on slight bearish sentiment with 0.21% cut. Sell triggered as per trade setup below 17865 and hit our target. This trade gave more than 100 points gain (17865- 17762). A hammer has formed exactly at important daily swing low. Above its high 17950 hammer effect will be seen; we can rally from this point. Since its at important daily low and hammer can be spotted so below its low- 17760 aggressive selling can be seen and swing sell can be planned. Rest for swing we will analyze in the weekend.
Coming to Friday's trade setup, if index opens flat a 15 Min candle closes above 17870 then we will long for the target of 17790-18k an above 18k we will test 18140-50.
For selling we need a 15 Min candle close below 17760. T- 17672 and 17565.
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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