BANK NIFTY
Important Levels for 24-11-2021.
The levels to watch out tomorrow is 37420-37460 on the upside and 37060-37100 on the downside.
If we see price sustaining above 37460, we can take longs with SL of 37400 and aim for targets of 37620,37740 and 37860. The SL needs to be trailed aggressively as once we cross 37660 we will be entering a resistance area and there is a possibility of price reversal in this zone.
But if we see any good volume -ve candle at 37420-37460 area we can take shorts with SL of 37460 and aim for targets of 37270,37170 and 37060.
Also if we see a gap down and we see any good volume +ve candle in the support zone of 37060-37100, we can look for longs with SL of 37040 and look for targets of 37170,37220 and 37360.
If price sustains below 37000, we can look to sell again with SL of 50-60 points and look for targets of 36870 and 36750.
Option data looks bullish and 37000 can be hard to breach.
The levels to watch out tomorrow is 37420-37460 on the upside and 37060-37100 on the downside.
If we see price sustaining above 37460, we can take longs with SL of 37400 and aim for targets of 37620,37740 and 37860. The SL needs to be trailed aggressively as once we cross 37660 we will be entering a resistance area and there is a possibility of price reversal in this zone.
But if we see any good volume -ve candle at 37420-37460 area we can take shorts with SL of 37460 and aim for targets of 37270,37170 and 37060.
Also if we see a gap down and we see any good volume +ve candle in the support zone of 37060-37100, we can look for longs with SL of 37040 and look for targets of 37170,37220 and 37360.
If price sustains below 37000, we can look to sell again with SL of 50-60 points and look for targets of 36870 and 36750.
Option data looks bullish and 37000 can be hard to breach.
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