NSE:BANKNIFTY1!   BANKNIFTY INDEX FUTURES
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Important Levels for 23-08-2021.
A perfect setup for a shorting position would be if we open flat or slightly higher at around 35100-35150 levels. If we sustain below it for the first 5 minutes we can short with a SL of 35180 for targets of 35000,34920 and 34860.
If we open gap down, we wait to see if we break 34900-34920 and then short below 34860 with SL of 34930 for targets of 34700 and 34650.
A huge gap up and we wait for price action and then trade accordingly.
Option chain shows negative bias with heavy good call writing at 35000 levels.
Longs to be avoided until 36300 is taken out or we open with a big gap down and see +ve price action at the lower levels.
Trade closed: target reached: All targets achieved, low made 34850

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