Nifty Important levels and trading plan for Friday- 08.07.22
On weekly and daily time frame Nifty is showing bullishness now.
For tomorrow, range between 16148 and 16198, 16311, 16451 and 16612 will act a major resistance and 16065, 15971, 15874 and 15790 will act as major support levels.
Trading strategy for tomorrow will be simple because of today’s range bound market. Breaking of 16146 and we may enter into bullish trade. Nifty crossing 16065 we may enter into bearish trade, but we will have to be careful as it will be against the major bullish trend, and price may reverse at any time. For gap up opening we will wait for price action and may enter into a trade after nifty taking support on any of the resistances. Same will be the process for gap down opening also. For directional traders 16065 to 16150 will be the no trade zone for tomorrow.
Oi data is not that important 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 7th July, 3:50 PM**
***Personal opinion, not a trading advice***
#NIFTY50
For tomorrow, range between 16148 and 16198, 16311, 16451 and 16612 will act a major resistance and 16065, 15971, 15874 and 15790 will act as major support levels.
Trading strategy for tomorrow will be simple because of today’s range bound market. Breaking of 16146 and we may enter into bullish trade. Nifty crossing 16065 we may enter into bearish trade, but we will have to be careful as it will be against the major bullish trend, and price may reverse at any time. For gap up opening we will wait for price action and may enter into a trade after nifty taking support on any of the resistances. Same will be the process for gap down opening also. For directional traders 16065 to 16150 will be the no trade zone for tomorrow.
Oi data is not that important 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 7th July, 3:50 PM**
***Personal opinion, not a trading advice***
#NIFTY50
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