(Levels and study done in Nifty future)
On daily time frame Nifty is bullish, but with current price action in lower time frame, tomorrow we may expect a little correction. Tomorrow, the range between CPR (which is a narrow one) and today’s high (17945 to 18020) will avoid directional trading. If Nifty opens between these two levels, we will wait, and will enter into bullish trade after Nifty crossing 18020, but here price action is must. For upside move 18123 will be the target level. If opens above no trade zone, then we may witness a sudden spike in upside, and here in this kind of opening also we will wait for a price action and then will enter into a trade. For opening inside no trade zone, and with a slow move towards downside, will enter into a bearish trade, after getting confirmation from breaking of first five-minute candle in downside. However, a gap down opening of more than 70 to 100 points well wait for the price to take a decision. For huge gap down opening, we may consider for bullish reversal trade, but depending upon the conditions.
From OI chart, 18000 is still having highest OI in CE side and in PE side it is 17900 with maximum OI present.
*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 11th September, 11:40 AM**
***Personal opinion, not a trading advice***
#NIFTY50
On daily time frame Nifty is bullish, but with current price action in lower time frame, tomorrow we may expect a little correction. Tomorrow, the range between CPR (which is a narrow one) and today’s high (17945 to 18020) will avoid directional trading. If Nifty opens between these two levels, we will wait, and will enter into bullish trade after Nifty crossing 18020, but here price action is must. For upside move 18123 will be the target level. If opens above no trade zone, then we may witness a sudden spike in upside, and here in this kind of opening also we will wait for a price action and then will enter into a trade. For opening inside no trade zone, and with a slow move towards downside, will enter into a bearish trade, after getting confirmation from breaking of first five-minute candle in downside. However, a gap down opening of more than 70 to 100 points well wait for the price to take a decision. For huge gap down opening, we may consider for bullish reversal trade, but depending upon the conditions.
From OI chart, 18000 is still having highest OI in CE side and in PE side it is 17900 with maximum OI present.
*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 11th September, 11:40 AM**
***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.