BANK NIFTY
Important Levels for 19-10-2021.
We opened today with a very big gap up and immediately we moved up and then we consolidated throughout the day inside 39700-39900.
If we open tomorrow between 39750-39850, we can see good trade facilitation in either side.
Once the price sustains below 39700, we can add some quantity with initial SL of 39800 and then trail aggressively . We can add more lots with the price moving below 38620 for targets of 39500,39400 and 39300.
But if we see price moving up and sustaining above 39930, we can take longs with SL of 39850 for targets of 40050,40150 and 40200.
In case of a big gap up or big gap down, will wait for price action and then take positions accordingly.
Option data for today indicates 39500-40000 to be the major support and resistance as of now and any big action can happen only once these levels are breached.
We opened today with a very big gap up and immediately we moved up and then we consolidated throughout the day inside 39700-39900.
If we open tomorrow between 39750-39850, we can see good trade facilitation in either side.
Once the price sustains below 39700, we can add some quantity with initial SL of 39800 and then trail aggressively . We can add more lots with the price moving below 38620 for targets of 39500,39400 and 39300.
But if we see price moving up and sustaining above 39930, we can take longs with SL of 39850 for targets of 40050,40150 and 40200.
In case of a big gap up or big gap down, will wait for price action and then take positions accordingly.
Option data for today indicates 39500-40000 to be the major support and resistance as of now and any big action can happen only once these levels are breached.
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