Nifty Important levels and trading plan for Wednesday 06.07.22
On daily time frame nifty is on correction mode, and possible reversal level will be at 15770 and 15622, below which we will consider nifty to be bearish in daily time frame. For intraday directional traders, range between 15904 to 15773 will be no trade zone, any opening in that zone crossing 15770 with or without price action, we will enter into a bearish trade, with support levels at 15622 and 15509. Opening in that zone and we will enter into bullish trade only when nifty crosses 15904 with a price action. 16069, 16221 and 16301 will be the resistance levels Any opening out of that zone we will have to wait for a price action to complete for entering into any trade.
16000 level is continuing with highest OI in CE side followed by 16200 and in PE side 15500 has highest OI followed by 15700 and 15600.
*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 5th July 9:45 PM**
***Personal opinion, not a trading advice***
#NIFTY50
16000 level is continuing with highest OI in CE side followed by 16200 and in PE side 15500 has highest OI followed by 15700 and 15600.
*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 5th July 9:45 PM**
***Personal opinion, not a trading advice***
#NIFTY50
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