Nifty Trade Plan for 28 Sep 2021
Yesterday Nifty closed well below the next day CPR and little narrow CPR today.
CPR shoud act as a resistance and if taken out we can expect resistance around 17894.
In case if Bearish Reversal zone is taken out on upside we can expect Bullish Beak out zone - 17933 to the tested again and if that is taken out we can expect even 18k to tested.
Global markets are not that bullish today hence any rejection at CPR we can expect Nifty to again test yesterday low and it that is compromised we can Bearish Break out & Lower Target 1 & Target 2 tested out today.
There is a virgin CPR from yesterday on the lower side, need to watch out for the price action around these levels if you are going short on CPR rejection.
Yesterday Nifty closed well below the next day CPR and little narrow CPR today.
CPR shoud act as a resistance and if taken out we can expect resistance around 17894.
In case if Bearish Reversal zone is taken out on upside we can expect Bullish Beak out zone - 17933 to the tested again and if that is taken out we can expect even 18k to tested.
Global markets are not that bullish today hence any rejection at CPR we can expect Nifty to again test yesterday low and it that is compromised we can Bearish Break out & Lower Target 1 & Target 2 tested out today.
There is a virgin CPR from yesterday on the lower side, need to watch out for the price action around these levels if you are going short on CPR rejection.