Nifty Important levels and trading plan for Friday 15.07.22
Nifty in daily time frame is in pullback of an uptrend and resulting a downtrend in 15 minute time frame. Below 15675 level Nifty will be considered bearish and if tomorrow in crosses 16074 level then we may see the reversal of the original pullback.
Nifty with flat opening tomorrow, after crossing 15966 we may enter into a bullish trade, resistance levels will be at 16029, 16074 and 16135. With initial stop loss below the bottom of tomorrow’s CPR. For huge gap up opening we must need a price action before entering into a trade.
With flat opening, below tomorrow’s CPR with price a action a bearish trade can be initiated, maximum initial stop loss will be at top of tomorrow’s CPR, depending upon the opening level. For huge gap down opening up to today’s low, with one green candle sustaining above 15890, again we may take a buy trade, today’s low as stop loss, as this point being the bottom of the weekly CPR and possibly a huge reversal level. Below this 15849, 15799 and 15675 will be the major support level.
OI is not that important for tomorrow.
*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 14th July 10 PM**
***Personal opinion, not a trading advice***
#NIFTY50
Nifty with flat opening tomorrow, after crossing 15966 we may enter into a bullish trade, resistance levels will be at 16029, 16074 and 16135. With initial stop loss below the bottom of tomorrow’s CPR. For huge gap up opening we must need a price action before entering into a trade.
With flat opening, below tomorrow’s CPR with price a action a bearish trade can be initiated, maximum initial stop loss will be at top of tomorrow’s CPR, depending upon the opening level. For huge gap down opening up to today’s low, with one green candle sustaining above 15890, again we may take a buy trade, today’s low as stop loss, as this point being the bottom of the weekly CPR and possibly a huge reversal level. Below this 15849, 15799 and 15675 will be the major support level.
OI is not that important for tomorrow.
*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 14th July 10 PM**
***Personal opinion, not a trading advice***
#NIFTY50
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