BANK NIFTY
Important Levels for 02-11-2021.
The index slowly and steadily moved up and closed almost at day's high. Tomorrow any dips seen till 39900 can be bought and if we open flat and cross 40150, we can take positions with SL of 40085 for targets of 40330,40460 and 40640.
If we see a gap down opening, 39570-39640 will act as support zone and upon seeing bounce from these levels we can take longs for targets of 39830,39900 and 40060. SL has to be at 39500 in this case.
Shorts to be initiated only if we see price sustaining below 39400.
Option data indicates more bullishness.
The index slowly and steadily moved up and closed almost at day's high. Tomorrow any dips seen till 39900 can be bought and if we open flat and cross 40150, we can take positions with SL of 40085 for targets of 40330,40460 and 40640.
If we see a gap down opening, 39570-39640 will act as support zone and upon seeing bounce from these levels we can take longs for targets of 39830,39900 and 40060. SL has to be at 39500 in this case.
Shorts to be initiated only if we see price sustaining below 39400.
Option data indicates more bullishness.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.