Important Levels for 23-11-2021.
A big fall after a long weekend, we opened almost flat and saw immediate selling and throughout the day we saw sustained selling pressure and apart from the pullback in the later half there were no significant pullbacks also. Overall a trending day and entry made at our discussed levels gave great returns today.
Tomorrow if we see a flat opening or an opening with a small gap up, 17520-17480 can act as resistance zone and any -ve candle formed with good volumes can be a trigger for short entry with SL of 25-30 points and the targets to look forward should be 17380,17360 and 17300.
If we open below 17400, then we need to wait for the price action to develop and then take positions. Shorts here can be taken only if we see price sustaining below 17300.
Option data looks bearish, but one thing we need to keep in mind is that despite this big fall we managed to close 150 points high of the day's low. So being cautious tomorrow morning will be a good choice,
A big fall after a long weekend, we opened almost flat and saw immediate selling and throughout the day we saw sustained selling pressure and apart from the pullback in the later half there were no significant pullbacks also. Overall a trending day and entry made at our discussed levels gave great returns today.
Tomorrow if we see a flat opening or an opening with a small gap up, 17520-17480 can act as resistance zone and any -ve candle formed with good volumes can be a trigger for short entry with SL of 25-30 points and the targets to look forward should be 17380,17360 and 17300.
If we open below 17400, then we need to wait for the price action to develop and then take positions. Shorts here can be taken only if we see price sustaining below 17300.
Option data looks bearish, but one thing we need to keep in mind is that despite this big fall we managed to close 150 points high of the day's low. So being cautious tomorrow morning will be a good choice,
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