Nifty Important levels and trading plan for Thursday 09.06.22

For any opening between 16340 to 16400 a bullish trade can be initiated, if nifty crosses 16400 level with a positive price action in 15-minute time frame. 16448 and 16481 will be the initial resistances. Next resistance levels will depend on price action only.
Nifty crossing 16324 level without crossing 16364 level before, a bearish trade can be initiated. 16275 and 16194 will the immediate levels of support.
Between 16400 to 16340 it is no trade zone for Nifty for tomorrow.
Considerable OI is found in 16500, 16600 and major oi is present at 17000 level for CE side and for PE side 16300 has highest OI, followed by 16500 and 16200.
A channel is also visible in 75-minute time frame, which may act as support and resistance.
CPRFibonacci ExtensionFibonacci RetracementNIFTYPivot PointsSupport and ResistanceTrend Analysis

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