#Nifty Trading Important levelsOn 1 Hour Timeframe, NIFTY trading important levels. Time to wait for either breakout or Breakdown (reversal) for the Nifty.
Breakdown Move
- Confirmation for breakdown will be if Nifty starts trading and sustain below 22220 level
- Downside rally nearly 500 points expected in case of breakdown
- Intermediate support expected near 21880- level
- Short Trader can place there stop loss if Nifty starts trading above 22250 level
Breakout move
- Long side movement expected in case Nifty starts trading and sustain above 22250 level
- Above this level Nifty can go upto the 22760+ level.
- Intermediate resistance expected near 22580 level
- Long trader can place there stop loss if Nifty starts trading below 22220 level.
