BANK NIFTY
Important Levels for 06-09-2021
We witnessed heavy profit booking from 37200 levels and after that we were not able to close above 36920 levels at any point of time, so clearly 36920-37070 will be a strong resistance and fresh entries should be avoided.
Any longs we take above 37070, a strict SL of 36980 should be maintained for targets of 37190-37220, 37250. Price sustaining above 37250 and supported by good volumes we can see 37380,37500 and 37750 levels.
Option data suggests 37000 spot has maximum call built up and should act as resistance, so clearly longs should be taken only if price sustains above 37070.
We can short once price sustains below 36850 for targets of 36740,36680 and 36580. SL should be placed around 36960, also we can short at higher levels on seeing -ve price action coupled with high volumes inside the resistance zone.
I will be going in with a neutral bias and trade as per the day develops.
We witnessed heavy profit booking from 37200 levels and after that we were not able to close above 36920 levels at any point of time, so clearly 36920-37070 will be a strong resistance and fresh entries should be avoided.
Any longs we take above 37070, a strict SL of 36980 should be maintained for targets of 37190-37220, 37250. Price sustaining above 37250 and supported by good volumes we can see 37380,37500 and 37750 levels.
Option data suggests 37000 spot has maximum call built up and should act as resistance, so clearly longs should be taken only if price sustains above 37070.
We can short once price sustains below 36850 for targets of 36740,36680 and 36580. SL should be placed around 36960, also we can short at higher levels on seeing -ve price action coupled with high volumes inside the resistance zone.
I will be going in with a neutral bias and trade as per the day develops.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.