Nifty Support&Resistance Levels for 18th April Thursday

Nifty formed a doji cadle on daily time frame an indecisive candle and taking support at 50 EMA on daily front. Immeadiate resistance area is 22200-22250 and Immeadiate support area is 22075-22050.

Nifty was in rising channle and rejected on top of the channel chances are it will test the low of channel on thursday or friday then we need reacces the price action there.

How to trade on thursday look for rejection or breakout on resistance area and on support area same look for breakdown or rejection to take entries in between try to avoid it those resistance and support areas are only turning points lot of people showing interest for entries.

Resistanace:- 22200-22250 if sustanins above long for targets of 22300,22350,22380,22400.
Support are 22075-22050 if sustains below short for targets of 22000,21950,21900,21880.

Mentioned support,resistance and targets can act as reversal points also please check price action on those levels.

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Updating 15 mins chart for reference

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rejected from mentioned resistance area now taking support at 22200 area

Trade closed: target reached:

took this trade on support 22200 area done for day

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Resistance area worked and rejected

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carefull going short on 22075 area acting as support only a breakdown and sustains below 22050 can short otherwise look for reversal on support area

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marked levels worked perfectly

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