On daily time frame Nifty formed an inside candle today, which made our trading decision for tomorrow simple. Normally for inside candle, we may enter into a trade, when price breaks in either direction. Here for today we have marked the range between 17700 and 17530 as no trade zone for directional traders. Nifty exiting from this zone in any direction we will take a trade in same trend. For down side 17470, 17382 and 17298 will be the important levels of support and 17778, 17850 and 17963 will be the important resistance levels, As far the trend is concern in Nifty we still would like to ride in a downside trade. If opens huge gap up then we will wait for a price action to complete before taking any decision, and for huge gap down, will enter into a long trade with one positive candle or, breaking of first five-minute candle in upside.
Daily Central Pivot Range from 17582 to 17555
Weekly Central Pivot Range from 17551 to 17535
Monthly Central Pivot Range from 17697 to 17573
Will not check OI data today
*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 1st September, 5:40 PM**
***Personal opinion, not a trading advice***
#NIFTY50
Daily Central Pivot Range from 17582 to 17555
Weekly Central Pivot Range from 17551 to 17535
Monthly Central Pivot Range from 17697 to 17573
Will not check OI data today
*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 1st September, 5:40 PM**
***Personal opinion, not a trading advice***
#NIFTY50
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.