Nifty important levels and trade plan for Wednesday, 15th March
In daily time frame Nifty is bearish, similar is the trend in 75 Minute time frame. From current price, we may expect an upside retracement, which may lead to a short bullishness in market in smaller time frame.
For tomorrow, zone between 17086 and 17033 will be the no trade zone. Nifty above this level, we may go for bullish trade, Possible targets will be 17143, 17186 and 17258. Nifty may take reversal form any of the levels, but we may consider the 17258 level as the strongest one.
Below no trade zone, with a price action in 15-minute time frame, we may initiate bearish trade. 16978, 16920, 16878 can be the levels of concern,
OI data is bearish; however, 17000 and 16800 levels are still standing with considerable OI, in PE side, with probable resistance starting from 17200 in CE side.
*Strictly a personal opinion, not at all a trade advice*
For tomorrow, zone between 17086 and 17033 will be the no trade zone. Nifty above this level, we may go for bullish trade, Possible targets will be 17143, 17186 and 17258. Nifty may take reversal form any of the levels, but we may consider the 17258 level as the strongest one.
Below no trade zone, with a price action in 15-minute time frame, we may initiate bearish trade. 16978, 16920, 16878 can be the levels of concern,
OI data is bearish; however, 17000 and 16800 levels are still standing with considerable OI, in PE side, with probable resistance starting from 17200 in CE side.
*Strictly a personal opinion, not at all a trade advice*
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