BANK NIFTY
Updated
Important levels for 07/10/2022.
At the beginning of the session we were wary of longs as we opened near the old seller reference area and longs were avoided but at the far end of the reference we saw rejection and got a very nice trade.
For tomorrow, with VA almost equidistant from day's high and low staying light on positions can be a good idea.
If we open flat and move down, we can take shorts below 39345 for targets of 39168-39214 followed by 39043 and the buyer reference of 38852-38920.
On the long side, there does not look any good RR, so we can avoid it unless we witness a major gap down close to mentioned buyer reference zones.
At the beginning of the session we were wary of longs as we opened near the old seller reference area and longs were avoided but at the far end of the reference we saw rejection and got a very nice trade.
For tomorrow, with VA almost equidistant from day's high and low staying light on positions can be a good idea.
If we open flat and move down, we can take shorts below 39345 for targets of 39168-39214 followed by 39043 and the buyer reference of 38852-38920.
On the long side, there does not look any good RR, so we can avoid it unless we witness a major gap down close to mentioned buyer reference zones.
Comment
Gap down and open inside our buyer reference (39168-39214), we wait for the first 5 minutes to see whether the buyers defend it or sellers empower them.Comment
Levels working like magnets, happy for those who took trades as per levels.
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