Important Levels for 05-07-2021.
Considering the bigger picture, price in the last week except for Monday has been playing inside the Value Area of the previous two weeks thereby overlapping each other, so not expecting any major move unless 35400 or 34550 is breached.
On an intraday basis price sustaining above 35050 (34920 in spot) we can test 35210-35240 levels and price below 35750 (35650 in spot) we can see 35570-35600 levels.
Last session we had seen decent put addition at 34700 and 34800 levels with major call addition at 35500 levels, overall 35000 and 35500 has the maximum call buildup with 34500 and 34000 having comparatively lesser put buildup but things can change quickly if a swift move seen in any direction.
I am going in tomorrow a neutral view and will take trades based on our levels only.
Considering the bigger picture, price in the last week except for Monday has been playing inside the Value Area of the previous two weeks thereby overlapping each other, so not expecting any major move unless 35400 or 34550 is breached.
On an intraday basis price sustaining above 35050 (34920 in spot) we can test 35210-35240 levels and price below 35750 (35650 in spot) we can see 35570-35600 levels.
Last session we had seen decent put addition at 34700 and 34800 levels with major call addition at 35500 levels, overall 35000 and 35500 has the maximum call buildup with 34500 and 34000 having comparatively lesser put buildup but things can change quickly if a swift move seen in any direction.
I am going in tomorrow a neutral view and will take trades based on our levels only.
Trade closed: target reached:
Trade 1: 35080-35220 Target achieved