BANK NIFTY
Important Levels for 27-10-2021.
An inside day with too much volatility.
If we open flat and once we clear 41500, we can take fresh longs with SL of 41400 for targets of 41610,41700 and 41800. Initial SL is a bit on the higher side so the position sizing has to be done accordingly.
In case of a gap up, 41610-41700 zone will be a resistance zone and any -ve price action seen here with volumes can be a good entry for shorts with SL of 50-60 points for targets of 41500,41410 and 41340. SL has to be trailed aggressively and exit major positions by the second target.
If we open gap down, we shall wait before initiating trades, but if we trade below 40930, we can take short positions for targets of 40770,40650 and 40560. SL has to be 41000.
Option chain indicates more bullishness than bearishness.
An inside day with too much volatility.
If we open flat and once we clear 41500, we can take fresh longs with SL of 41400 for targets of 41610,41700 and 41800. Initial SL is a bit on the higher side so the position sizing has to be done accordingly.
In case of a gap up, 41610-41700 zone will be a resistance zone and any -ve price action seen here with volumes can be a good entry for shorts with SL of 50-60 points for targets of 41500,41410 and 41340. SL has to be trailed aggressively and exit major positions by the second target.
If we open gap down, we shall wait before initiating trades, but if we trade below 40930, we can take short positions for targets of 40770,40650 and 40560. SL has to be 41000.
Option chain indicates more bullishness than bearishness.
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