Important Levels for 05/09/2022.
We are currently trading inside a zone where we need to avoid taking unnecessary risks. 39300-39800 is the range which needs to be broken for good trades.
On the upside, once we sustain above 39780-39800 for 15 mins then only we can plan for longs with initial targets of 39980-40080, sustaining above these can see 40270 also.
On the downside, good trades will be below 39300 with SL of 80-100 points and initial target of 39100 followed by previous buyer reference of 38955. The final target for this trade should be around 38800.
In case of gap at the open, we shall wait for VA to develop before taking any positions.
We are currently trading inside a zone where we need to avoid taking unnecessary risks. 39300-39800 is the range which needs to be broken for good trades.
On the upside, once we sustain above 39780-39800 for 15 mins then only we can plan for longs with initial targets of 39980-40080, sustaining above these can see 40270 also.
On the downside, good trades will be below 39300 with SL of 80-100 points and initial target of 39100 followed by previous buyer reference of 38955. The final target for this trade should be around 38800.
In case of gap at the open, we shall wait for VA to develop before taking any positions.
Trade closed: target reached:
39800-39980