Nifty: Friday - 28/10/22

27 oct 2022

Levels:
Support: 17730, 17675, 17650, 17600
Resistance: 17775-17810 (~17800), 17950, 18090

OI Data:
Highest OI Call in Nifty per OI data: 17750
Highest OI Put in Nifty per OI data: 17700
Nearest Major Resistance in Nifty per OI data: 17950
Nearest Major Support in Nifty per OI data: 17550


Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. If Nifty closes above 17825 level (the uptrend line in the chart), 18000+ is surely in card.

+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 17800 | 17750 | 17900 | 17950
-----------------------------------------
SELL | < 17680 | 17730 | 17600 | 17550
+++++++++++++++++++++++++++++++++++++++++