Nifty Important levels and trading plan for Monday 4.07.22
Nifty is currently down to sideways mode now on weekly and daily time frame. Currently SGX nifty is almost 100 points plus, but we may see some corrections at the time of opening tomorrow.
For directional traders a between 15640 to 15714 will be the no trading zone, which are the top and bottom of CPR for tomorrow, If we see any opening in that range we have to wait and can take a trade when nifty crosses this zone in either direction only preferably with a price action. 15782, 15851, 15924, 16003 and 16080 will be the resistance levels and a zone from 15561 to 15508, 15443, 15364 will act as support levels. For any opening between 15714 and 15782 we will have to wait for price action to complete to take a trade either bearish or bullish, for bullish trade nifty has to cross 15782, and for bearish trade nifty has to take resistance in any of the levels forming any negative price action. Though due to long lasting sideways trend recently in NIFTY we see lots of support and resistance levels here, but these levels will surely help us to take a proper decision, in case of taking any directional trade.
15800 has highest OI in CE side, and in PE 15500 has highest OI followed by 15600.
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different*
**Date and Time of plotting the levels and planning= 3rd July, 2:00 PM**
***Personal opinion, not a trading advice***
For directional traders a between 15640 to 15714 will be the no trading zone, which are the top and bottom of CPR for tomorrow, If we see any opening in that range we have to wait and can take a trade when nifty crosses this zone in either direction only preferably with a price action. 15782, 15851, 15924, 16003 and 16080 will be the resistance levels and a zone from 15561 to 15508, 15443, 15364 will act as support levels. For any opening between 15714 and 15782 we will have to wait for price action to complete to take a trade either bearish or bullish, for bullish trade nifty has to cross 15782, and for bearish trade nifty has to take resistance in any of the levels forming any negative price action. Though due to long lasting sideways trend recently in NIFTY we see lots of support and resistance levels here, but these levels will surely help us to take a proper decision, in case of taking any directional trade.
15800 has highest OI in CE side, and in PE 15500 has highest OI followed by 15600.
*All support and resistance plotted are based on PDH/PDL. For any reversal after breaking PDH/PDL, support and resistance levels will be different*
**Date and Time of plotting the levels and planning= 3rd July, 2:00 PM**
***Personal opinion, not a trading advice***