Nifty Important levels and trading plan for Tuesday 27.6.22
Nifty weekly on retracement mode- 15991 and 16447 (blue lines) will the resistance levels on weekly basis.
For daily time frame- 15884,15930 and 16095 will act as major resistance and 15795,15647 and 15489 will act as major support. For tomorrow for Nifty option buyers 15795 to 15930 will be the no trading zone, because in that range nifty could again go sideways. For any opening within that range bearish trade can be initiated (option buying) only when nifty crosses 15795 level and sustain (with or without PA). For bullish trade nifty has to cross 15930 level with price action.
16000 has highest OI n CE side which will act as major resistance level, and in PE 15500 has highest OI followed by 15700.
CPR will be narrow for tomorrow.
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different**
**Personal opinion, not a trading advice**
#NIFTY50
For daily time frame- 15884,15930 and 16095 will act as major resistance and 15795,15647 and 15489 will act as major support. For tomorrow for Nifty option buyers 15795 to 15930 will be the no trading zone, because in that range nifty could again go sideways. For any opening within that range bearish trade can be initiated (option buying) only when nifty crosses 15795 level and sustain (with or without PA). For bullish trade nifty has to cross 15930 level with price action.
16000 has highest OI n CE side which will act as major resistance level, and in PE 15500 has highest OI followed by 15700.
CPR will be narrow for tomorrow.
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different**
**Personal opinion, not a trading advice**
#NIFTY50
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