Nifty Important levels and trading plan for Friday 10.06.22
Tomorrow any opening between today’s close and 16413 level with a positive price action crossing over 16472 level a bullish trade can be initiated. Initial targets will be 16510 and 16583. Any opening above today’s closing again we have to wait for price action to complete to initiate a trade, however resistance levels will be fix.
With any opening below today’s closing, we will have to wait for price action to complete for a bearish trade and for the support levels. If nifty sustain below 16365 level then we may consider the whole trend to be bearish and then we can find the support levels to trade.
The upward channel is still intact in 75 minute time frame with weekly CPR above current closing
Tomorrow’s CPR range is quite wide and it will be better if we avoid taking any trade between 16472 and 16365 level which is the bottom of tomorrow’s CPR and at the same time fib level .786 for current swing.
OI data is not that important for tomorrow.
With any opening below today’s closing, we will have to wait for price action to complete for a bearish trade and for the support levels. If nifty sustain below 16365 level then we may consider the whole trend to be bearish and then we can find the support levels to trade.
The upward channel is still intact in 75 minute time frame with weekly CPR above current closing
Tomorrow’s CPR range is quite wide and it will be better if we avoid taking any trade between 16472 and 16365 level which is the bottom of tomorrow’s CPR and at the same time fib level .786 for current swing.
OI data is not that important for tomorrow.