Important Levels for 06-07-2021
After the first 30 minutes there was hardly any movement or volumes in the index until 12:15 pm when the volumes picked up and we saw a movement in favor of the bulls but nowhere did the bears completely give up. The last couple of hours shows a good amount of positive volumes and the close at the day's high does tinker our minds to be on the long side.
Going by the charts and volumes once BN futures closes above 35430-35450 level we can set targets of 35570 levels followed by 35640 levels. Also any pullbacks till 35310-35330 can be bought for initial target of 35420-35430 followed by our final target of 35600+ levels.
Shorts advised only below 35120 levels, or any negative price action seen in case of a massive gap up, else say NO to shorts.
After the first 30 minutes there was hardly any movement or volumes in the index until 12:15 pm when the volumes picked up and we saw a movement in favor of the bulls but nowhere did the bears completely give up. The last couple of hours shows a good amount of positive volumes and the close at the day's high does tinker our minds to be on the long side.
Going by the charts and volumes once BN futures closes above 35430-35450 level we can set targets of 35570 levels followed by 35640 levels. Also any pullbacks till 35310-35330 can be bought for initial target of 35420-35430 followed by our final target of 35600+ levels.
Shorts advised only below 35120 levels, or any negative price action seen in case of a massive gap up, else say NO to shorts.
Trade closed: target reached:
Target 1 reached: 35450-35570
Comment:
Target 2 Achieved 35640