Important Levels for 25-11-2021.
The index laboriously tried moving up but was neither supported by strong volumes nor it had the support of Nifty and just as it looked to clear the resistance zone, the bears got into action and took the prices down.
The closing level of 37350-37400 will be important to watch out tomorrow. If we open flat or with a small gap up or gap down and sustain below 37360, we can take short entries with SL of 37420 and aim for targets of 37260,37170 and 37050.
Any up move and we shall wait for the prices to reach 37530-37590 and then any -ve candle seen with good volumes can be a trigger for us to take shorts with SL of 37660 and initial target of 37370. The subsequent targets are mentioned above.
Option data looks confusing and still a good number of puts are there at 37500 and likewise we see call unwinding at 37500 and lower levels.
Tomorrow being the monthly expiry be prepared to expect the unexpected and with the week so far being dominated by sellers, a massive short covering can be seen.
The index laboriously tried moving up but was neither supported by strong volumes nor it had the support of Nifty and just as it looked to clear the resistance zone, the bears got into action and took the prices down.
The closing level of 37350-37400 will be important to watch out tomorrow. If we open flat or with a small gap up or gap down and sustain below 37360, we can take short entries with SL of 37420 and aim for targets of 37260,37170 and 37050.
Any up move and we shall wait for the prices to reach 37530-37590 and then any -ve candle seen with good volumes can be a trigger for us to take shorts with SL of 37660 and initial target of 37370. The subsequent targets are mentioned above.
Option data looks confusing and still a good number of puts are there at 37500 and likewise we see call unwinding at 37500 and lower levels.
Tomorrow being the monthly expiry be prepared to expect the unexpected and with the week so far being dominated by sellers, a massive short covering can be seen.