BANK NIFTY
Important Levels for 16-09-2021
A day which again signifies the fact that when you are unsure just wait with patience. All negativity created was just brushed off in a quick second half move.
Tomorrow bein expiry we can expect a bit of volatility and random moves in both directions and caution is advised.
If we open flat to a small gap down, we wait for any dips till 36885-36900 levels and any +ve price action in 5 minute time frame needs to be bought with a 50-60 point SL for targets of 37050,37150 and 37250. If we don't find any dip we can buy above 37050 for mentioned targets.
In case of massive gap up we shall wait and observe price action and trade accordingly.
In case of massive gap down, 36700-36750 will be a great area to go long with a open target and a SL not more than 50 points trailed as we develop.
As per option data, 37000 still has maximum calls which again adds a question mark but at the same time call unwinding at 36700 & 36800 suggests bullishness.
I will be going in tomorrow with a +ve bias and buy the dips and be empty in the second half.
A day which again signifies the fact that when you are unsure just wait with patience. All negativity created was just brushed off in a quick second half move.
Tomorrow bein expiry we can expect a bit of volatility and random moves in both directions and caution is advised.
If we open flat to a small gap down, we wait for any dips till 36885-36900 levels and any +ve price action in 5 minute time frame needs to be bought with a 50-60 point SL for targets of 37050,37150 and 37250. If we don't find any dip we can buy above 37050 for mentioned targets.
In case of massive gap up we shall wait and observe price action and trade accordingly.
In case of massive gap down, 36700-36750 will be a great area to go long with a open target and a SL not more than 50 points trailed as we develop.
As per option data, 37000 still has maximum calls which again adds a question mark but at the same time call unwinding at 36700 & 36800 suggests bullishness.
I will be going in tomorrow with a +ve bias and buy the dips and be empty in the second half.
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