BANK NIFTY
Important Levels for 09-11-2021.
Bank NIfty today was weak as compared to Nifty but we did see slow and steady move in the index and we closed quite close to the day's high.
39540-38640 will be a good support area and dips can be bought with small SL of 50-60 points and targets should be 39750,37870 and 39970. If we open with s a small gap up and start trading up, longs can be taken as 39750 is crossed with SL of 70 points with 39970 as our final target.
If we see a big gap. we need to wait for price action to develop and then take positions.
We can look to short if we see price sustaining below 39380. SL has to be at 39420 and targets should be 39280,39180 and 39080.
Option data seems more or less neutral with a slight inclination towards an up move.
Bank NIfty today was weak as compared to Nifty but we did see slow and steady move in the index and we closed quite close to the day's high.
39540-38640 will be a good support area and dips can be bought with small SL of 50-60 points and targets should be 39750,37870 and 39970. If we open with s a small gap up and start trading up, longs can be taken as 39750 is crossed with SL of 70 points with 39970 as our final target.
If we see a big gap. we need to wait for price action to develop and then take positions.
We can look to short if we see price sustaining below 39380. SL has to be at 39420 and targets should be 39280,39180 and 39080.
Option data seems more or less neutral with a slight inclination towards an up move.
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