Important Levels for 17-08-2021.
The first 15 min candle was the entire range for the day and no significant move throughout the day. It tried to break the day's low but always found buyers at lower levels but still the sellers look strong. But he thing to consider is that it wasn't able to break any previous lows.
Once we see a 15 min candle close below 36100, we can look for a risky short for targets of 35960, 35870 and 35750. SL will be 36170. To be on the safer side one can short below 35960 with a SL of 36030.
If we see +ve price action well supported by volumes at 36100-36130 levels we can go long with SL of 36070 for target of 36220, 36300 and 36450.
Option chain shows more call writers than put writers. 36200 will be a strong resistance and 36000 a good support.
I will be going in tomorrow with a neutral bias and take positions accordingly.
The first 15 min candle was the entire range for the day and no significant move throughout the day. It tried to break the day's low but always found buyers at lower levels but still the sellers look strong. But he thing to consider is that it wasn't able to break any previous lows.
Once we see a 15 min candle close below 36100, we can look for a risky short for targets of 35960, 35870 and 35750. SL will be 36170. To be on the safer side one can short below 35960 with a SL of 36030.
If we see +ve price action well supported by volumes at 36100-36130 levels we can go long with SL of 36070 for target of 36220, 36300 and 36450.
Option chain shows more call writers than put writers. 36200 will be a strong resistance and 36000 a good support.
I will be going in tomorrow with a neutral bias and take positions accordingly.
Trade closed: target reached:
Done: 35940-35750