NSE:BANKNIFTY1!   BANKNIFTY INDEX FUTURES
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Important Levels for 13-08-2021
Initial V-Shaped recovery and then the index settled inside a small range and in the last minutes gave a good strong close well supported by volumes. The continuous efforts by the buyers coming in at 35750-35850 levels indicates we still have some upside movement left.
Any dips to 36000 can be bought with a SL of 35920 and targets to be looked for should be 36150,36275 and 36350. In case we open gap up and price sustains above 36275 we can still go long with a proper SL.
Shorts if we see price rejection at 36400-36450 levels supported by volumes for smaller targets, else be comfortable to short below 35900 with SL pf 36000 for targets of 35750 and 35600. I we open gap down, look for positive price action and take longs.
Trade closed: target reached: A very late trade:
36011-36150
Comment: Almost made the second target of 36275

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