Nifty important levels and trade plan for, Thursday, 11th May

2023年5月10日

Nifty important levels and trade plan for tomorrow, Thursday, 11th May

(US inflation data is due today at 6 PM, but we are going ignore its influence on tomorrow’s opening, and will plan normally)


Major trend for Nifty - Bullish
Important resistance levels- 18350, 18387, 18437 and 18497
Important support levels- 18232, 18198, 18165 and 18115
No trade zone- 18318 and 18274

Trade Plan- will enter into buy side trade with Nifty crossing 18318, in case of flat or slight gap down opening. Reversal can be planned at 18350 and 18497 level. For gap up opening will take decision, based on price action.

With flattish opening, will enter into sell side trade after nifty crossing 18274 with price action. 18232 and 18198 will be the possible reversal levels, so in case of gap down opening, we may plan for reversal near those levels.

OI data is bullish- with buildup at 18500 level in CE side, which may offer resistance and 18200 level in PE side, which may offer support



*Personal opinion, not at all a trade advice*