Important Levels for 29-09-2021.
Every time we see any big fall it now it is always being backed up by heavy buying at lower levels. We almost saw a 800 point bounce in about 40-45 mins thus completing a V-shaped recovery.
For tomorrow, if we open flat or with a slight gap up and we see any -ve price action backed up with good volumes at 38100-38150 levels, we can short with a 60-70 point SL for targets of 38000,37900 and 37765. But if we continue trading above 37150, we wait and only take longs above 38400.
If we open with a big gap down, then we can short below 38750 only if the price consolidates in a range and then breaks down for targets of 37620,37450 and 37350.
Option data has seen good volumes of call addition and put unwinding at 38000 level, thus making it a good resistance.
Will be in tomorrow with a bearish view and will look to sell the up moves.
Every time we see any big fall it now it is always being backed up by heavy buying at lower levels. We almost saw a 800 point bounce in about 40-45 mins thus completing a V-shaped recovery.
For tomorrow, if we open flat or with a slight gap up and we see any -ve price action backed up with good volumes at 38100-38150 levels, we can short with a 60-70 point SL for targets of 38000,37900 and 37765. But if we continue trading above 37150, we wait and only take longs above 38400.
If we open with a big gap down, then we can short below 38750 only if the price consolidates in a range and then breaks down for targets of 37620,37450 and 37350.
Option data has seen good volumes of call addition and put unwinding at 38000 level, thus making it a good resistance.
Will be in tomorrow with a bearish view and will look to sell the up moves.