Important Levels for 30-07-2021
Once the index crosses the marked resistance zone (34700-34770), it will soon run into another strong resistance area at 34870-34920 and above that we have the phycological 35000. So for upside we have to wait till 35050 is breached with good volumes. If it is able to breach then we can set targets of 35150,35320. SL should be kept at 34920.
As we can see that the price faced resistance from the 61.8% retracement level and has found support at 50% levels, will be happy to take shorts only below 34600 levels for targets of 34500 and 34370 levels. SL can be placed at 34670.
Once the index crosses the marked resistance zone (34700-34770), it will soon run into another strong resistance area at 34870-34920 and above that we have the phycological 35000. So for upside we have to wait till 35050 is breached with good volumes. If it is able to breach then we can set targets of 35150,35320. SL should be kept at 34920.
As we can see that the price faced resistance from the 61.8% retracement level and has found support at 50% levels, will be happy to take shorts only below 34600 levels for targets of 34500 and 34370 levels. SL can be placed at 34670.