NIFTY - Possible Trade for Today- 17-08-2022

With the markets refusing to deviate from their upmove, it will be interesting to see the price movement for today and tomorrow. Since we have the weekly expiry tomorrow, market may want to test the strength of those who became bullish very recently and may test 17700-17600 zone. On the upside we can see the market to test the psychological resistance of 18000 if prices sustain above 17860 . On the options front 17800 has the highest call writing and 17700 has the highest put writing. If the market starts trading below 17800, it can test 17730/17700. Only a break below 17700 can scare the baby bulls.

Important level to watch out for today and for weekly expiry

Bullish Above 17860

Possible Upside targets -17920/17960/18000

Bearish Below 17810

Possible Downside targets - 17760/17730/17680/17620

Disclaimer:
The analysis provided is for educational purpose and the author does not assume any responsibility for the trades initiated based on the analysis. Consult your financial advisor before making any trades.