Important Levels for 04-01-2022.
We did witness a lovely trending day and all our targets were achieved quite easily. Now we can see that we did face some kind of resistance at the last swing high but with good volumes support we can expect to cross this level and tag higher prices.
If we see a gap down open or we see any spikes on the downside, 17630-17660 can act as good support and will be a good region to take longs with a 15 point SL and the targets to look forward can be 16690,17720 and 17760.
But in case we open flat or with a small gap up and continue sustaining above 17720, we can set targets at 17800,17840 and 17880.
Shorts can be avoided unless we open with a massive gap up.
Option data indicates bullishness with major support at 17500.
We did witness a lovely trending day and all our targets were achieved quite easily. Now we can see that we did face some kind of resistance at the last swing high but with good volumes support we can expect to cross this level and tag higher prices.
If we see a gap down open or we see any spikes on the downside, 17630-17660 can act as good support and will be a good region to take longs with a 15 point SL and the targets to look forward can be 16690,17720 and 17760.
But in case we open flat or with a small gap up and continue sustaining above 17720, we can set targets at 17800,17840 and 17880.
Shorts can be avoided unless we open with a massive gap up.
Option data indicates bullishness with major support at 17500.