Nifty analysis and trade plan for Wednesday, 27th June
In daily time frame Nifty can be considered as in down trend up to 18837 level, and may remain in same trend if it opens below this level, chances of which looks less based on current level of SGX nifty. However we will plot support levels based on today’s high, but breaking of this level may shift the support levels up to some extent.
For tomorrow, a zone between 18828 and 18837 will act as resistance zone, and above this 18889 and 18956 may act as another resistance levels. Nifty above the resistance zone we may plan for bullish trades only.
Nifty opening below the resistance zone, we may plan for bearish trade based on price action. 18787, 18761, 18739 and 18717 may act as support levels and we can expect bullish reversal from any of the levels.
OI data is not very conclusive today with equal OI present at 18800 level in both the sides and with build up at 18700 level in PE side and 18900 and 19000 level in CE side.
For tomorrow, a zone between 18828 and 18837 will act as resistance zone, and above this 18889 and 18956 may act as another resistance levels. Nifty above the resistance zone we may plan for bullish trades only.
Nifty opening below the resistance zone, we may plan for bearish trade based on price action. 18787, 18761, 18739 and 18717 may act as support levels and we can expect bullish reversal from any of the levels.
OI data is not very conclusive today with equal OI present at 18800 level in both the sides and with build up at 18700 level in PE side and 18900 and 19000 level in CE side.
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