For Education purpose only,
Today the market is most of the time sideways forming a range but has given a breakdown at the last half an hour (due to fall in dow futures). Tomorrow the market can continue this bearish trend because it is in retracement phase in daily TF.
Market Opening near 18300-20 level;
1. If dow futures are negative & fallling AND there is higher call writing in the zones of 18300 & 18250 then the levels of 18269 & 18220 can be tested.
2. If dow futures are positive and rising AND there is higher put writing in the zones of 18350 & 18400 then the levels of 18366 & 18416 can be tested.
Breakdown of 18318 level;
If dow futures are negative & fallling AND there is higher call writing in the zones of 18300 & 18250 then the levels of 18269 & 18220 can be tested.
Breakout of 18416 level;
If dow futures are positive and rising AND there is higher put writing in the zones of 18450 & 18500 then the levels of 18460 & 18512 can be tested.
Today the market is most of the time sideways forming a range but has given a breakdown at the last half an hour (due to fall in dow futures). Tomorrow the market can continue this bearish trend because it is in retracement phase in daily TF.
Market Opening near 18300-20 level;
1. If dow futures are negative & fallling AND there is higher call writing in the zones of 18300 & 18250 then the levels of 18269 & 18220 can be tested.
2. If dow futures are positive and rising AND there is higher put writing in the zones of 18350 & 18400 then the levels of 18366 & 18416 can be tested.
Breakdown of 18318 level;
If dow futures are negative & fallling AND there is higher call writing in the zones of 18300 & 18250 then the levels of 18269 & 18220 can be tested.
Breakout of 18416 level;
If dow futures are positive and rising AND there is higher put writing in the zones of 18450 & 18500 then the levels of 18460 & 18512 can be tested.
Comment:
As I said in the strategy, the market has continued the bearish trend and clearly given targets after breakdown of 18318 level.