Nifty Important levels for Tues Day 31.05.22

30 May 2022

Here are some important levels for nifty for 31.05.22- for 15 minute time frame nifty is bullish. Key resistance will be at 16749, 16840 and 16931 levels if sustain the same trend. Again on daily time frame 200 period moving average is at 16750 level which will act as major resistance. Major support level will be at 16600. Other support levels will depend on tomorrow’s opening. With any positive price action above or crossing 16690, we can go for bullish trade. For bearish trade we have to wait for nifty to cross bottom of the tomorrow’s CPR at 16600, but will have to be careful about minor supports which will depend upon reversal point only.
Highest CE side OI is present at 17000 and for PE side it is at 16300, but also at 16500 level considerable OI is present, which is a psychological level, hence will act as support.
According to India vix at the closing time nifty range for Tuesday will be 205