Nifty: Thursday - 27/10/22
Levels:
Support: 17675, 17600, 17520, 17420
Resistance: 17775-17810, 17950, 17950, 18090
OI Data:
Highest OI Call in Nifty per OI data: 18000
Highest OI Put in Nifty per OI data: 17500
Nearest Major Resistance in Nifty per OI data: 17850
Nearest Major Support in Nifty per OI data: 17650
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. If Nifty closes above 17820 (the uptrend line in the chart), 18000+ is surely in card.
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | 17710 | 17660 | 17800 | 17850
-----------------------------------------
SELL | 17640 | 17675 | 17550 | 17500
+++++++++++++++++++++++++++++++++++++++++
Support: 17675, 17600, 17520, 17420
Resistance: 17775-17810, 17950, 17950, 18090
OI Data:
Highest OI Call in Nifty per OI data: 18000
Highest OI Put in Nifty per OI data: 17500
Nearest Major Resistance in Nifty per OI data: 17850
Nearest Major Support in Nifty per OI data: 17650
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. If Nifty closes above 17820 (the uptrend line in the chart), 18000+ is surely in card.
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | 17710 | 17660 | 17800 | 17850
-----------------------------------------
SELL | 17640 | 17675 | 17550 | 17500
+++++++++++++++++++++++++++++++++++++++++
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