Nifty: Tuesday - 25/10/22
Levels:
Support: 17600, 17520, 17420
Resistance: 17675, 17795, 17950
OI Data:
Trade setup:
* For gapup, wait for V pattern (retest of 17780/17790). If sustains, Buy with a SL of 17750. Next major resistance only at 17950 level (both in chart and IO data).
* For flat open, watch 17720 level for at least ~10 mins (3 3m candles or 2 5m candles). If sustains above, go long with SL of 17700, target can be 17650/17675. If fails, go short with a SL of 17625, target of 17575/17550.
* If fails to sustain, short with a SL of 17750. Next support is 17670/17600 level.
* For gapdown: 17675 to be tested. Same logic .. if sustains above, long. If fails to sustain, go for short.
Support: 17600, 17520, 17420
Resistance: 17675, 17795, 17950
OI Data:
- Highest OI Call in Nifty per OI data: 18000
- Highest OI Put in Nifty per OI data: 17500
- Nearest Major Resistance in Nifty per OI data: 17950
- Nearest Major Support in Nifty per OI data: 17550
Trade setup:
* For gapup, wait for V pattern (retest of 17780/17790). If sustains, Buy with a SL of 17750. Next major resistance only at 17950 level (both in chart and IO data).
* For flat open, watch 17720 level for at least ~10 mins (3 3m candles or 2 5m candles). If sustains above, go long with SL of 17700, target can be 17650/17675. If fails, go short with a SL of 17625, target of 17575/17550.
* If fails to sustain, short with a SL of 17750. Next support is 17670/17600 level.
* For gapdown: 17675 to be tested. Same logic .. if sustains above, long. If fails to sustain, go for short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.