The plotted levels on the chart should be considered only when NIFTY opens flat on 29-09-2023.
If NIFTY opens GAP-UP or GAP-DOWN on 29-09-2023 then the following calculations must be considered:
Level 1 = OPEN PRICE (29-SEP) -26.75
Level 2 = OPEN PRICE (29-SEP) - 80.00
Level 3 = OPEN PRICE (29-SEP) - 40.00
Level 4 = OPEN PRICE (29-SEP) + 26.75
Level 5 = OPEN PRICE (29-SEP) + 80.00
Level 6 = OPEN PRICE (29-SEP) + 40.00
Level 7 = (Level 1 + Level 2) / 2
Level 8 = (Level 4 + Level 5) / 2
The yellow, purple, and white coloured lines plotted on the attached chart are strong reversal levels.
DISCLAIMER: This idea is only for educational purpose.
Comment:
If 19603.55 is broken then the next important level is 19625.95 and if price sustains above this level then NIFTY will be unidirectional for rest of the day.
Comment:
19680.85 is very important level for NIFTY now. If price sustains over this level then sky is the limit for NIFTY for rest of the day.