BANK NIFTY
Zaktualizowano
Important Levels for 30-06-2021
The index lacks strength and that was evident from todays play, every time it tried to go up, sellers came in and kept pushing prices down.
35050-35150 zone should be treated as no trade zone and no trades to be initiated in this zone.
Shorts can be taken if price sustains below 34920 levels for 10-15 mins for initial target of 34780-34800 followed buy 34660-34680 levels.
Longs can be taken above 35280 levels targeting 34430 and 34550 levels. Price sustaining above these will make the index super bullish till 35800 levels, but longs can be avoided considering the option chain which shows high calls being added today at all strike prices above 35000.
Any positive price action at 34960-35000 can be considered for taking longs with 34920 as SL and gains should be trailed aggressively.
The index lacks strength and that was evident from todays play, every time it tried to go up, sellers came in and kept pushing prices down.
35050-35150 zone should be treated as no trade zone and no trades to be initiated in this zone.
Shorts can be taken if price sustains below 34920 levels for 10-15 mins for initial target of 34780-34800 followed buy 34660-34680 levels.
Longs can be taken above 35280 levels targeting 34430 and 34550 levels. Price sustaining above these will make the index super bullish till 35800 levels, but longs can be avoided considering the option chain which shows high calls being added today at all strike prices above 35000.
Any positive price action at 34960-35000 can be considered for taking longs with 34920 as SL and gains should be trailed aggressively.
Uwaga
The last part of the analysis worked out well, although i personally did not take the trade, it gave a good 180-200 point up move..Currently the index is trading inside the VA of yesterday and the best trade is to not take any trade.
Transakcja zamknięta: osiągnięto wyznaczony cel
Short at 34920 and initial target of 34800 reached
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