Nifty Important levels and trade planning for Friday 03.06.22

2 Jun 2022

Since Nifty has crossed 16600 level today and able to sustain hence it can be considered as bullish tomorrow if it continues the same trend. In any upside move breaking 16690/16700 we can enter into a bullish trade; nearest major resistances will be at 16834 and 17061 along with other minor resistances. If it breaks tomorrow’s CPR with negative price action a bearish trade can be initiated but need to careful about the monthly CPR ranges from 16536 to 16433, where Nifty has formed a double bottom which is visible in 75 min time frame. So, if not sculping then a bearish trade can be avoided above this levels.
OI data is not very important for tomorrow.