BANK NIFTY
Updated
Important Levels for 16-06-2021
Considering todays option chain price should have rocketed up with massive call unwinding from 34500 to 35000 spot levels but strangely we saw the price stuck in a tight range after the initial burst.
A good amount of buying has happened at 35190-35240 levels and if we see a pullback to these levels a long position can be taken for targets of 35375, 35475 and 35535.
Price sustaining above 35630 levels will give targets of 35850+ levels above which Bank Nifty will be super bullish.
Shorts to be avoided unless we see any good price action on intraday basis.
Considering todays option chain price should have rocketed up with massive call unwinding from 34500 to 35000 spot levels but strangely we saw the price stuck in a tight range after the initial burst.
A good amount of buying has happened at 35190-35240 levels and if we see a pullback to these levels a long position can be taken for targets of 35375, 35475 and 35535.
Price sustaining above 35630 levels will give targets of 35850+ levels above which Bank Nifty will be super bullish.
Shorts to be avoided unless we see any good price action on intraday basis.
Trade closed: target reached
35190-35375
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