Nifty Important levels and trading plan for Monday 13.06.22
Currently SGX Nifty is 137 points negative compare to its previous closing, and if its closing time it was in a consolidation phase and may show some reversal and we may see some correction by tomorrow morning which may lead to a little gap down opening in NIFTY. In that case we may go for bearish trade if nifty forms a negative price action below 16217 level. 16017, 16051 or 15945 could be the next support levels.
Bullish trade will only be possible over 16247 with positive price action, resistance levels will only depend on tomorrow’s opening and reversal point only, but next week’s weekly CPR is in between 16265 and 16391, and between these levels it may take resistance. However, it will be only in retracement mode, so need to be careful on downside reversal.
16500 level has highest OI in CE side followed by 16300 and 16400 and in PE side 16000 has highest OI followed by 16200 and 15800.
#NIFTY50
Bullish trade will only be possible over 16247 with positive price action, resistance levels will only depend on tomorrow’s opening and reversal point only, but next week’s weekly CPR is in between 16265 and 16391, and between these levels it may take resistance. However, it will be only in retracement mode, so need to be careful on downside reversal.
16500 level has highest OI in CE side followed by 16300 and 16400 and in PE side 16000 has highest OI followed by 16200 and 15800.
#NIFTY50
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