Nifty Trading Plan for Monday 16 Oct 2023

Nifty Demand and supply zones are Price levels on Chart where the Buying and selling Pressures are Expected to be Strong and it is top Nifty Trading Indicator for Nifty Intraday Trading

Nifty key Support
Nifty Support 1 - 19720
Nifty Support 2 - 19650
Nifty Support 3 - 19580
Nifty Support 4 - 19480

Nifty key Resistance
Nifty Resistance 1 - 19790
Nifty Resistance 2 - 19840
Nifty Resistance 3 - 19880
Nifty Resistance 4 - 19940


Nifty Trend Signal From Open Interest Analysis
PCR ratio as per Option Chain Analysis - 0.90 ( Bullish)
Max Pain As per Option Chain Analysis - 19850
Major Resistance as Per Nifty Open Interest Analysis - 19800/19900
Major Support as Per Nifty Open Interest Analysis - 19700 /19600

Long Opportunity in Nifty Trading
On Friday Nifty sustained above support of 19720, which is a positive sign for Nifty
Next week, Buying opportunities will be above 19650,18720,19800.

Short opportunity in Nifty Trading
As we Know Nifty is in a short-term downtrend,
If nifty Sustain below 19800 try to Short nifty, The Next Shorting opportunity is if nifty index break support 19720

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