#Nifty Trading Important levels

On 1 Day Timeframe, NIFTY trading important levels. Time to wait for either breakout or Breakdown (reversal) for the Nifty.

Breakdown Move
- Confirmation for breakdown will be if Nifty starts trading and sustain below 23030 level
- Downside rally nearly 800 points expected in case of breakdown
- Intermediate support expected near 22475- level
- Short Trader can place there stop loss if Nifty starts trading above 23182 level

Breakout move
- Long side movement expected in case Nifty starts trading and sustain above 23182 level
- Above this level Nifty can go upto the 24220+ level.
- Intermediate resistance expected near 23850 level
- Long trader can place there stop loss if Nifty starts trading below 23030 level.