Nifty 50 Trade setup for 13th October 2021

Good Morning Everyone,


In yesterday's trading session, The Index has managed to close above 18,000, a sign of strength. We know the trend is still bullish, and the index has broken an Important level, but the main question is intraday because of both sides' moves. Intraday is very tricky in today's trading session because only 24 hours left in the expiry.

The market structure is bullish in the hourly time frame and making higher highs. Harmonic ABCD pattern has given a dot reversal in Monday trading session and create a range that is valid for today's trading session. We will see a direction on a breakout; otherwise higher chances to see the range again.

Trade Setup
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Build long Position if the Monday high of 18,050 broken for the target of 18,150 and 18,200.
Short Position can build lower than 17,940 for the targets of 17,900 and 17,850

Trade setup
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RANGE HIGH: 18,050
RANGE LOW: 17,940

Essential support is: 17,800
Key Resistance is: 18,200

Trade Accordingly

Trade closed: target reached