Nifty is currently in a downtrend, with a probability of correction tomorrow, and below are the important support and resistance levels.
Possible resistance- 17727, 17842 and 17941
Possible support- zone between 17562 to 17544 (SZ1), 17457 to 17438 (SZ2) and 17300.
Will plan for bearish trade below no trade zone, with half quantity, and tight stop loss, and below SZ1, will go with complete quantity. From SZ1, we may expect a reversal, and in that case also may plan a bullish trade, but with half quantity only. Now, above no trade zone also may go for bullish trades, but quantity will be limited, up to 17727, because from this level we may expect some corrections.
For huge gap down opening, near SZ1 or even below SZ1 also, we will have to wait for initial corrections and profit booking, and will enter into a trade according to the price action.
Will not consider OI data today.
*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 22nd September, 9:25 PM**
***Personal opinion, not a trading advice***
Possible resistance- 17727, 17842 and 17941
Possible support- zone between 17562 to 17544 (SZ1), 17457 to 17438 (SZ2) and 17300.
Will plan for bearish trade below no trade zone, with half quantity, and tight stop loss, and below SZ1, will go with complete quantity. From SZ1, we may expect a reversal, and in that case also may plan a bullish trade, but with half quantity only. Now, above no trade zone also may go for bullish trades, but quantity will be limited, up to 17727, because from this level we may expect some corrections.
For huge gap down opening, near SZ1 or even below SZ1 also, we will have to wait for initial corrections and profit booking, and will enter into a trade according to the price action.
Will not consider OI data today.
*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 22nd September, 9:25 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.