SGX Nifty is currently 130 points negative, and based on current support and resistance levels we may expect three possibilities, gap down opening of 30-point, 120 point and of 200 points.
Nifty is currently in correction phase of a downtrend, after yesterday’s up move, and we may expect a continuation in this move from here. But with a gap down opening of 200 points it will be little difficult.
Now, for us zone between 17067 and 16943 will be the no trade zone. For any opening inside this zone, we will wait, and will enter into trade after breaking in either direction. For downside, we may expect a reversal from 16770, so up to this level our quantity will be limited, and second level of support will be 16624.
For upside, 17221 will be important resistance level , our quantity will be limited up to this level. Second resistance level will be at 17357.
For initial hour, we will have to be careful, if Nifty opens 200-point negative, then we will have to wait for correction in RSI, and initial settlement, along with price action.
OI is neutral, having spaces in both side move.
*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 01st October, 5:30 PM**
***Personal opinion, not a trading advice***
Nifty is currently in correction phase of a downtrend, after yesterday’s up move, and we may expect a continuation in this move from here. But with a gap down opening of 200 points it will be little difficult.
Now, for us zone between 17067 and 16943 will be the no trade zone. For any opening inside this zone, we will wait, and will enter into trade after breaking in either direction. For downside, we may expect a reversal from 16770, so up to this level our quantity will be limited, and second level of support will be 16624.
For upside, 17221 will be important resistance level , our quantity will be limited up to this level. Second resistance level will be at 17357.
For initial hour, we will have to be careful, if Nifty opens 200-point negative, then we will have to wait for correction in RSI, and initial settlement, along with price action.
OI is neutral, having spaces in both side move.
*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 01st October, 5:30 PM**
***Personal opinion, not a trading advice***
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.