Nifty important levels and trade plan for Friday, 16th February
Nifty important levels and trade plan for Friday, 16th February
Currently in daily time frame Nifty is in an uptrend, and with today’s doji candle may indicate a pause in this move. So for tomorrow, today’s top and bottom levels may play an important role for deciding the trend. With Nifty above today’s top which is 21953.6 we may plan for bullish trade, in case of flat or +/- 30-point gap up or down opening for tomorrow. Initial target will be 22004.85, 22056 and 22124.45. For huge gap up opening we will have to wait for a pullback before entering into a trade.
In case of flat or negative opening, after Nifty crossing below 21854.75, we may go for bearish trade. 21792.6 will be our initial target. Below this 21743.2, 21693.8 and 21623.2 will be the possible targets. 21792.6 and 21693.8 will be the important levels to mark, from where we may plan for bullish reversal trade with a price action in 1/2/3-minute time frame.
*Personal opinion, not a trade advice*
*Support and resistance levels are based on Fibonacci*
Currently in daily time frame Nifty is in an uptrend, and with today’s doji candle may indicate a pause in this move. So for tomorrow, today’s top and bottom levels may play an important role for deciding the trend. With Nifty above today’s top which is 21953.6 we may plan for bullish trade, in case of flat or +/- 30-point gap up or down opening for tomorrow. Initial target will be 22004.85, 22056 and 22124.45. For huge gap up opening we will have to wait for a pullback before entering into a trade.
In case of flat or negative opening, after Nifty crossing below 21854.75, we may go for bearish trade. 21792.6 will be our initial target. Below this 21743.2, 21693.8 and 21623.2 will be the possible targets. 21792.6 and 21693.8 will be the important levels to mark, from where we may plan for bullish reversal trade with a price action in 1/2/3-minute time frame.
*Personal opinion, not a trade advice*
*Support and resistance levels are based on Fibonacci*
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