(Levels and study done in Nifty future)
On weekly time frame Nifty was in correction and daily time frame it is bullish. 17844 level in Nifty future will play an important role for tomorrow, and above this level, on weekly time frame Nifty will be considered as bullish. Tomorrow, we will enter into a long trade after Nifty crossing 17844 level if opens flat, opening above this level, we will go for long trade, after forming a proper price action. Important resistance levels will be at 17896, 17958 and 18004. Will plan for a continuation in bullish trade for opening up to 17896 level. But over this level, we may see a profit booking, and near upper levels of resistance we may consider a reversal trade, with tight stop loss.
In between 17844 and 17757 we will avoid a directional trade, and will enter into a bearish trade after nifty crossing 17757 level, preferably with a price action. Important support levels will be at 17678, 17599 and 17530, Below 17599 it will again be considered as bearish. For short side trades we will trail stop losses at every candle as we may witness sudden reversal as it will be against the major upward trend.
For huge gap up or down openings will plan for reversals in opposite direction, after Nifty crossing first five-minute candle in either direction.
In CE side 18000 has the highest level of OI and 17500 level has that for PE side.
*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 8th September, 9:30 PM**
***Personal opinion, not a trading advice***
On weekly time frame Nifty was in correction and daily time frame it is bullish. 17844 level in Nifty future will play an important role for tomorrow, and above this level, on weekly time frame Nifty will be considered as bullish. Tomorrow, we will enter into a long trade after Nifty crossing 17844 level if opens flat, opening above this level, we will go for long trade, after forming a proper price action. Important resistance levels will be at 17896, 17958 and 18004. Will plan for a continuation in bullish trade for opening up to 17896 level. But over this level, we may see a profit booking, and near upper levels of resistance we may consider a reversal trade, with tight stop loss.
In between 17844 and 17757 we will avoid a directional trade, and will enter into a bearish trade after nifty crossing 17757 level, preferably with a price action. Important support levels will be at 17678, 17599 and 17530, Below 17599 it will again be considered as bearish. For short side trades we will trail stop losses at every candle as we may witness sudden reversal as it will be against the major upward trend.
For huge gap up or down openings will plan for reversals in opposite direction, after Nifty crossing first five-minute candle in either direction.
In CE side 18000 has the highest level of OI and 17500 level has that for PE side.
*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 8th September, 9:30 PM**
***Personal opinion, not a trading advice***
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.