Nifty Important levels and trade plan for Wednesday, 21.09.22
Current trend of Nifty- Correction of a downtrend.
Possible resistance- 17946, 178035, 18102
Possible support- 17695, 17620, 17453
No trade zone- 17848 to 17799
For flat open will enter trade after breaching either side of no trade zone, for bearish trade after breaking the low of first five-minute candle and for up move must break the upper level of no trade zone with a price action.
For up move, there is a possibility of reversal below 17946, so, will trade with limited quantity and tight stop loss up to this level, but above this level, we may go with full quantity, for bullish trade.
In downside, up to level 17453, there is a possibility of reversal, so, in downside will trade with limited quantity, and tight stop loss.
OI statistics are neutral to bullish, with highest OI in PE side at level 17600 and for CE highest OI is at 18000 and with considerable OI in 17800 level on both CE and PE side.
*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 20th September, 4:35 PM**
***Personal opinion, not a trading advice***
#NIFTY50
Possible resistance- 17946, 178035, 18102
Possible support- 17695, 17620, 17453
No trade zone- 17848 to 17799
For flat open will enter trade after breaching either side of no trade zone, for bearish trade after breaking the low of first five-minute candle and for up move must break the upper level of no trade zone with a price action.
For up move, there is a possibility of reversal below 17946, so, will trade with limited quantity and tight stop loss up to this level, but above this level, we may go with full quantity, for bullish trade.
In downside, up to level 17453, there is a possibility of reversal, so, in downside will trade with limited quantity, and tight stop loss.
OI statistics are neutral to bullish, with highest OI in PE side at level 17600 and for CE highest OI is at 18000 and with considerable OI in 17800 level on both CE and PE side.
*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 20th September, 4:35 PM**
***Personal opinion, not a trading advice***
#NIFTY50