Nifty Important levels and trading plan for Monday 11.07.22
On daily time frame nifty is in pull back of a bullish trend. With major resistance levels in 15-minute time frame at 16270 to 16298, 16336, 16387 and 16449 and support levels at 16220, 16157 16097 and 16049. And major support levels in daily time frame at 16097, 15891, 15677. Nifty crossing 15677 will again be bearish.
Tomorrow, we may take bullish position above 16220 and bearish below this level with a price cation, for flat opening. For gap up or gap down opening we may need to wait for a price action, With a narrow CPR tomorrow, we may see a day favorable for directional traders.
16000 has highest OI in PE side and 16200 has the highest OI in CE side followed by 16300 and 16400, So possibly if Nifty show some weakness tomorrow crossing 16200 then we may see support at 16000 levels and then again, a huge resistance at 16200 levels
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different*
**Time of plotting the levels and planning 10th July 9:50 PM**
***Personal opinion, not a trading advice***
#NIFTY50
Tomorrow, we may take bullish position above 16220 and bearish below this level with a price cation, for flat opening. For gap up or gap down opening we may need to wait for a price action, With a narrow CPR tomorrow, we may see a day favorable for directional traders.
16000 has highest OI in PE side and 16200 has the highest OI in CE side followed by 16300 and 16400, So possibly if Nifty show some weakness tomorrow crossing 16200 then we may see support at 16000 levels and then again, a huge resistance at 16200 levels
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different*
**Time of plotting the levels and planning 10th July 9:50 PM**
***Personal opinion, not a trading advice***
#NIFTY50
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