Nifty Important levels and trade plan for Thursday, 18.08.22

17 авг. 2022 г.

Expecting the same thing for tomorrow, which was expected from Nifty for last two three days, one correction. As without any proper correction it will be difficult to have confidence on up move in current trend, RSI being at 85 on daily time frame.
Will avoid any bullish trade tomorrow, due to the current trend and OI data, as 18000 level in CE side is standing still with highest OI, will go for bearish trade if Nifty crosses tomorrow’s CPR, with very small targets, first one with the diagonal trend line marked in colour green, and then at 17836, below which it will be difficult for Nifty to break tomorrow.
Below are the important levels for tomorrow
Daily Central Pivot Range from 17927 to 17901
Weekly Central Pivot Range from 17646 to 17542
Monthly Central Pivot Range from 16886 to 16341

*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 17th August, 9:10 PM**
***Personal opinion, not a trading advice***

#NIFTY50