Nifty important levels and trade plan for Friday, 16th June
Nifty important levels and trade plan for tomorrow, Friday, 16th June
Nifty Major Trend- Bullish
No Trade zone- between 18702 and 18730
Support Levels – 18674, 18646, 18606, 18555
Resistance Levels- 18759, 18787, 18815
In case of flat opening, between 18674 and 18702, will wait for nifty to cross 18674 level to initiate a bearish trade, with limited quantity up to 18646, and below this level only can go with full quantity. For same opening, will wait for Nifty to cross the top of no trade zone, with a price action to enter into a bullish trade.
For gap down opening below 18674, may take bullish trade depending on the price action, and for bearish trade will wait for Nifty to cross 18646.
For gap up opening, above no trade zone, will wait for an initial pullback, to enter into a bullish trade, depending on the price move, and if Nifty crosses 18674 then will go for bearish side trade with full quantity.
*Personal opinion, not a trade advice*
**Support and resistance levels are plotted based on Fibonacci**
Nifty Major Trend- Bullish
No Trade zone- between 18702 and 18730
Support Levels – 18674, 18646, 18606, 18555
Resistance Levels- 18759, 18787, 18815
In case of flat opening, between 18674 and 18702, will wait for nifty to cross 18674 level to initiate a bearish trade, with limited quantity up to 18646, and below this level only can go with full quantity. For same opening, will wait for Nifty to cross the top of no trade zone, with a price action to enter into a bullish trade.
For gap down opening below 18674, may take bullish trade depending on the price action, and for bearish trade will wait for Nifty to cross 18646.
For gap up opening, above no trade zone, will wait for an initial pullback, to enter into a bullish trade, depending on the price move, and if Nifty crosses 18674 then will go for bearish side trade with full quantity.
*Personal opinion, not a trade advice*
**Support and resistance levels are plotted based on Fibonacci**
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