Important Levels for 13-09-2021
The index spent most of its time inside our No Trade Zone and every time it went near Wednesday's open it saw some kind of buying happening.
On the upper side the scope looks limited with resistances at every 50-100 points and unless it crosses and sustains above 37050-37070 any longs should be considered risky.
On the downside we can see quick movements once we trade below 36620-36640 and for shorts taken at these levels SL should be of 36700 and the targets one should look for is 36500, 36440 and 36310. Prices sustaining below 36300 can test 36120 levels.
Best trading opportunity shall be if we open flat to slight gap down and start trading lower. Any massive gap down and we shall wait for the day to develop and then take trades and in case of a big gap up we shall wait for a -ve candle and then take shorts.
Option data looks slightly bearish too.
The index spent most of its time inside our No Trade Zone and every time it went near Wednesday's open it saw some kind of buying happening.
On the upper side the scope looks limited with resistances at every 50-100 points and unless it crosses and sustains above 37050-37070 any longs should be considered risky.
On the downside we can see quick movements once we trade below 36620-36640 and for shorts taken at these levels SL should be of 36700 and the targets one should look for is 36500, 36440 and 36310. Prices sustaining below 36300 can test 36120 levels.
Best trading opportunity shall be if we open flat to slight gap down and start trading lower. Any massive gap down and we shall wait for the day to develop and then take trades and in case of a big gap up we shall wait for a -ve candle and then take shorts.
Option data looks slightly bearish too.