Nifty Trade Setup for 07 OCT 2021

NSE:NIFTY   Nifty 50 Index
Nifty Trade Setup for 07 OCT 2021

Nifty likely to have a gap up opening.

Nifty formed a descending wider CPR and expected opening will be around the CPR levels.

We have bearish reversal zone inside the CPR around 17720, if this resistance holds good nifty sustains below 17720 we can expect nifty test yesterday low and if that is compromised we can expect even 17500 levels.

In case of opening above CPR or CPR taken on upside and bullish breakout zone of 17795 is sustained then we can expect Nifty to test previous day high.