BANK NIFTY
Updated
Imp Levels for 03/08/2022.
And we see a good volume day. As planned we got a very good long trade from 37760-38100.
For tomorrow, if we open flat we will look to short the index once we sustain below 37830 for targets of 37730,37670 and 37520. SL for this will be placed around 37910.
If we see a gap up, then the first point of reference to look will be 38170 levels, if we find rejection we can short with a 60 point SL for targets of 37990,37910 and 37830. Sustaining above 38200 can be a indication to go long for target of 38400.
If we have a gap down open, then we wait before initiating any trade with 37670 as reference, if we stay below it we look for targets of 37510. Longs not preferred right now.
And we see a good volume day. As planned we got a very good long trade from 37760-38100.
For tomorrow, if we open flat we will look to short the index once we sustain below 37830 for targets of 37730,37670 and 37520. SL for this will be placed around 37910.
If we see a gap up, then the first point of reference to look will be 38170 levels, if we find rejection we can short with a 60 point SL for targets of 37990,37910 and 37830. Sustaining above 38200 can be a indication to go long for target of 38400.
If we have a gap down open, then we wait before initiating any trade with 37670 as reference, if we stay below it we look for targets of 37510. Longs not preferred right now.
Trade closed: target reached
Captured the rejection at 38100.Entry was at 38060, exited at 37910.
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