Nifty Important levels and trade plan for Friday 19.08.22

Observed tiny dip today in Nifty, but eventually it moved upward, but still could not able to breach yesterday’s high, but RSI in daily time frame still maintained its level over 80.
Now, in coming day’s we will have to be cautious, while going long, unless we see a proper pullback in price or healthy correction in RSI. Tomorrow, bullish trade can be initiated above 17977, with a target at 18053, 18105 and 18174, and will go for bearish trade below 17909, after nifty crossing this level, preferably with a price action, targets being 17854, 17781, 17711. For huge gap up or gap down opening near support or resistance levels, we may go for bearish or bullish trades, depending upon the situation and the price action. But will strictly avoid option buying between 17909 to 17977. And even over 17977, while going for bullish trades we will be extra careful, as Nifty may/should hover around this level if it has to continue its up move, or at the same time there is a possibility that we may witness a sudden fall at any time from 18000 range, so our stop losses should be tight.
Will not consider OI data today.

Below are the important levels for tomorrow
Daily Central Pivot Range from 17941 to 17910
Weekly Central Pivot Range from 17646 to 17542
Monthly Central Pivot Range from 16886 to 16341

*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 18th August, 6:25 PM**
***Personal opinion, not a trading advice***

#NIFTY50