Nifty important levels and trade plan for tomorrow, Friday, 10th
In daily time frame Nifty is in correction of an uptrend, which in 75 minutes time frame leads to a downtrend. So, we may consider that this downtrend may continue up to certain level, from where we may expect reversal.
We have an important support zone between 17573 and 17553, and from the bottom of this zone we may expect reversal, and Nifty above this zone for tomorrow, our major trend will be bullish.
Below this support zone, we may expect the continuation in downtrend, in this case we will mainly focus on bearish trades.
17470, 17411, 17353 will be the support levels. Up to 17411 we may expect upside reversal at any time.
If tomorrow, Nifty opens above the support zone, with a price action, we may enter into a bullish trade.
17619, 17673, 17729 will be the important resistance levels. Up to 17729, there is a possibility of reversal.
will not consider OI data for tomorrow.
*Strictly a personal opinion, not at all a trade advice*
We have an important support zone between 17573 and 17553, and from the bottom of this zone we may expect reversal, and Nifty above this zone for tomorrow, our major trend will be bullish.
Below this support zone, we may expect the continuation in downtrend, in this case we will mainly focus on bearish trades.
17470, 17411, 17353 will be the support levels. Up to 17411 we may expect upside reversal at any time.
If tomorrow, Nifty opens above the support zone, with a price action, we may enter into a bullish trade.
17619, 17673, 17729 will be the important resistance levels. Up to 17729, there is a possibility of reversal.
will not consider OI data for tomorrow.
*Strictly a personal opinion, not at all a trade advice*
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