Nifty important levels and trade plan for, Friday, 12th May
Nifty important levels and trade plan for tomorrow, Friday, 12th May
Nifty current trend in daily time frame- Correction of an uptrend.
Major Resistance- 18135, 18340, 18383, 18415 and 18452
Major Support- Support zone between 18277 and 18271, 18247, 18209, 18161 and 18099
Trade Plan- Bellow support zone will enter into bearish trade. Limited quantity up to 18247 and 18209 as there is possibility of reversal from those levels. Below 18209 can go with full quantity.
We may go for bullish trade with price action near the support zone, or nifty crossing 18315 with a price action. After nifty crossing 18340, we may expect to see trending market upside.
*Personal opinion, not at all a trade advice*
Nifty current trend in daily time frame- Correction of an uptrend.
Major Resistance- 18135, 18340, 18383, 18415 and 18452
Major Support- Support zone between 18277 and 18271, 18247, 18209, 18161 and 18099
Trade Plan- Bellow support zone will enter into bearish trade. Limited quantity up to 18247 and 18209 as there is possibility of reversal from those levels. Below 18209 can go with full quantity.
We may go for bullish trade with price action near the support zone, or nifty crossing 18315 with a price action. After nifty crossing 18340, we may expect to see trending market upside.
*Personal opinion, not at all a trade advice*
Penafian
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