Nifty Important levels and trading plan for Monday 18.07.22

17 thg 7, 2022

At present SGX nifty is 175 point positive and near a resistance zone, So, we may expect some correction before tomorrow’s opening, but we may not expect huge correction, so for tomorrow we will not consider any scenario for heavy gap down opening, will consider gap up and flat opening only.
Now, if SGX continues its upward move, then tomorrow we may see a huge gap up opening for Nifty. Any opening near 16272 level, after first five-minute candle, if negative we will go for short position, and may expect to a downward trend for the day.
Any opening above 16074 up to 16162 level initially we may expect a downward to sideways trend and after corrections we may take trades depending upon the price action.
Any opening below 16074, if Nifty breaks 16074 level and sustain (in 15-minute time frame) we will go bullish without waiting for price action, similarly, with same opening, nifty crossing the bottom of tomorrow’s CPR with a price action we will enter into bearish trade.
16000 has huge OI in PE side, and definitely, this level will provide huge support, and similarly with huge OI in 16200 level in CE side, we may expect considerable resistance to nifty at this level.
*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 17th July 9:30 PM**
***Personal opinion, not a trading advice***