BANK NIFTY
Updated
Important Levels for 09-07-2021.
Yesterday's closing was too good to be true, everything looked positive but what happened was least expected which again makes the statement "Don't try to predict the market" gain its weight even more.
The index had a free fall once 35500 was broken and interestingly took support at last week's VAL and has closed just at this week's VAL.
Now 35500-35530 should act as a resistance zone and any negative candle at these levels should be sold for targets of 35400-35420 and 35290-35320 levels and price sustaining below 35270 levels can see 35160 and 35050 levels.
Longs can be taken above 35620 with SL of 35530, but I will personally wait for a good confirmation.
Tomorrow is likely to be a volatile day if we trade inside today's range, trade carefully.
Yesterday's closing was too good to be true, everything looked positive but what happened was least expected which again makes the statement "Don't try to predict the market" gain its weight even more.
The index had a free fall once 35500 was broken and interestingly took support at last week's VAL and has closed just at this week's VAL.
Now 35500-35530 should act as a resistance zone and any negative candle at these levels should be sold for targets of 35400-35420 and 35290-35320 levels and price sustaining below 35270 levels can see 35160 and 35050 levels.
Longs can be taken above 35620 with SL of 35530, but I will personally wait for a good confirmation.
Tomorrow is likely to be a volatile day if we trade inside today's range, trade carefully.
Note
Morning Trade done: 35160-35050
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