NIFTY
Updated
Important Levels for 24/08/2022.
Shorting the index near current levels is a big NO for me as we do not see a good RR. If we see any pull back to 17600-17610 we can take longs but if we open flat we can take longs once we see a positive first 5 min candle. The next reference to look here is 17760-17834 zones.
This is the only trade which looks feasible to me for tomorrow unless we open with a gap up around the previous seller zone of 17760-17834, then only we can short with a 20-30 point SL with 17610-17640 as potential targets.
Shorting the index near current levels is a big NO for me as we do not see a good RR. If we see any pull back to 17600-17610 we can take longs but if we open flat we can take longs once we see a positive first 5 min candle. The next reference to look here is 17760-17834 zones.
This is the only trade which looks feasible to me for tomorrow unless we open with a gap up around the previous seller zone of 17760-17834, then only we can short with a 20-30 point SL with 17610-17640 as potential targets.
Note
17600-17610 once breached, longs will be activeNote
Still not entered
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