Important Levels for 05/08/2022.
If we open flat, any price rejection seen at the reference region of 17380-17425 can be used as an entry for shorts will SL of 25-30 points and we can look for targets of 17320,17280 and 17250.
If price sustains above 17325, we can take longs with SL of 17400 for targets of 17470 & 17500.
In case of a gap up, i shall wait for proper price action before initiating trades.
If we see a gap down, 17230-17250 can act as support and longs can be planned if we see good volume support for targets of 17310,17330 and 17380. SL can be of 20-25 points,
In case of a big gap down, will prefer to sit tight till the price is not above 17200 and then plan longs, shorts only below Day low.
If we open flat, any price rejection seen at the reference region of 17380-17425 can be used as an entry for shorts will SL of 25-30 points and we can look for targets of 17320,17280 and 17250.
If price sustains above 17325, we can take longs with SL of 17400 for targets of 17470 & 17500.
In case of a gap up, i shall wait for proper price action before initiating trades.
If we see a gap down, 17230-17250 can act as support and longs can be planned if we see good volume support for targets of 17310,17330 and 17380. SL can be of 20-25 points,
In case of a big gap down, will prefer to sit tight till the price is not above 17200 and then plan longs, shorts only below Day low.