BANK NIFTY
Important Levels for 01-11-2021.
The index was way too volatile and there was no follow up to any big candle in both sides. It will be well off to sit and watch the index settle and the take trades.
The safest bet will be to take shorts below 38760 only if we open with a gap down and trade lower. SL can be placed at 38830 and targets to look forward can be 38620,38470 and 38300.
Risky traders can take longs if we open flat and trade above 38470, with SL of 38420 for targets of 38650,38750 and 38900.
After two big range days, we might see a range bound market so trade cautiously and carefully.
The index was way too volatile and there was no follow up to any big candle in both sides. It will be well off to sit and watch the index settle and the take trades.
The safest bet will be to take shorts below 38760 only if we open with a gap down and trade lower. SL can be placed at 38830 and targets to look forward can be 38620,38470 and 38300.
Risky traders can take longs if we open flat and trade above 38470, with SL of 38420 for targets of 38650,38750 and 38900.
After two big range days, we might see a range bound market so trade cautiously and carefully.
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