BANK NIFTY
Updated
Important Levels for 29/09/2022.
The buyers tried hard to defend 38000 levels but the sellers were relentless and we did witness some heavy selling in the second half.
For tomorrow, we need to see where we open because a flat opening does not give us a good RR on the short side. 37600 being a old buyer reference we need 37600 to be broken and price sustain below it and then only we can look for targets of 37305 followed by old buyer reference zone of 36553-36775. But if we see a gap up we will get a more confident set up to short at higher levels around 38000 for initial targets of today's low @ 37672 and keep trailing for previous mentioned targets.
On the up side, if we see prices finding support at the old buyer reference of 37600, we can take longs with reduced quantities for targets of 37927,38078,38183 and 38283. SL has to be of 50-60 points and trailed aggressively.
The buyers tried hard to defend 38000 levels but the sellers were relentless and we did witness some heavy selling in the second half.
For tomorrow, we need to see where we open because a flat opening does not give us a good RR on the short side. 37600 being a old buyer reference we need 37600 to be broken and price sustain below it and then only we can look for targets of 37305 followed by old buyer reference zone of 36553-36775. But if we see a gap up we will get a more confident set up to short at higher levels around 38000 for initial targets of today's low @ 37672 and keep trailing for previous mentioned targets.
On the up side, if we see prices finding support at the old buyer reference of 37600, we can take longs with reduced quantities for targets of 37927,38078,38183 and 38283. SL has to be of 50-60 points and trailed aggressively.
Comment
A gap up, first 5 mins will be crucial a red candle with vols and we can take shortsComment
Issue with trading view futures showing october contracts levels will change, dont trade
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