Important Levels for 03-01-2022.
An initial burst followed by a completely sideways market.
Tomorrow if we open flat and cross 36730, we can take longs with SL of 36660 and look for targets of 36860,36980 and 36050.
If we open with a gap up, we shall wait for the prices to come till 36700 on the down side and then plan longs once we see +ve price action supported by volumes.
On the downside, shorts should be avoided unless we start trading below 36400.
Option data has more of a positive bias with next major resistance at 36000 spot.
An initial burst followed by a completely sideways market.
Tomorrow if we open flat and cross 36730, we can take longs with SL of 36660 and look for targets of 36860,36980 and 36050.
If we open with a gap up, we shall wait for the prices to come till 36700 on the down side and then plan longs once we see +ve price action supported by volumes.
On the downside, shorts should be avoided unless we start trading below 36400.
Option data has more of a positive bias with next major resistance at 36000 spot.
Comment:
36600-36730 should be a no trade zone and fresh entries be avoided inside this zone.