Nifty Important levels and trading plan for Tuesday 05.07.22
On daily time frame nifty is bullish now. With major resistance levels at 15862, 15953, 16077 and 16174. For any opening above the bottom of tomorrow’s CPR we will enter into a bullish trade after nifty crossing 15862 with or without price action.
Similarly enter into bearish trade after nifty crossing bottom of tomorrow’s CPR strictly with a price action. Major support levels will be at 15684, 15588, 15514.
For major gap up or gap down opening we need to wait for price action to complete.
Point of concern Monthly CPR- 15851 to 15987
Weekly CPR- 15719 to 15741
16200 has highest OI in CE side followed by 16000 and 15800 and in PE 15700 has highest OI followed by 15600 and 15500/
*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 3rd July, 4:15 PM**
***Personal opinion, not a trading advice***
#NIFTY50
Similarly enter into bearish trade after nifty crossing bottom of tomorrow’s CPR strictly with a price action. Major support levels will be at 15684, 15588, 15514.
For major gap up or gap down opening we need to wait for price action to complete.
Point of concern Monthly CPR- 15851 to 15987
Weekly CPR- 15719 to 15741
16200 has highest OI in CE side followed by 16000 and 15800 and in PE 15700 has highest OI followed by 15600 and 15500/
*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 3rd July, 4:15 PM**
***Personal opinion, not a trading advice***
#NIFTY50