BANK NIFTY
Important Levels for 25-08-2021.
We witnessed a lovely trending day today with a close almost at 61.8% retracement level after a small rejection from the VPOC of 18th August (35818).
Coming to tomorrow, we shall expect the momentum to continue and any dips till 35600-35630 levels should be bought with SL of 35530 for targets of 35800,35850 and 35920.
35800-35820 also being the VAL for the previous week, we can expect some kind of resistance but with option data showing bullishness, we should be able to cross that. Also if the price sustains above 35920-35950 we can test 36100 levels.
Wont look to short unless we see a opening around 36200-36250 levels followed by -ve price action.
We witnessed a lovely trending day today with a close almost at 61.8% retracement level after a small rejection from the VPOC of 18th August (35818).
Coming to tomorrow, we shall expect the momentum to continue and any dips till 35600-35630 levels should be bought with SL of 35530 for targets of 35800,35850 and 35920.
35800-35820 also being the VAL for the previous week, we can expect some kind of resistance but with option data showing bullishness, we should be able to cross that. Also if the price sustains above 35920-35950 we can test 36100 levels.
Wont look to short unless we see a opening around 36200-36250 levels followed by -ve price action.
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