Important Levels for 02/09/2022.
The context is definitely not bearish from where it stands currently. If we see a flat open and we break 17620 on the upside after initial 15 mins, then we can immediately take longs with SL of 16585 and look for initial target of today's high @ 17734 and final targets at the previous seller reference area of 17783-17843.
On the downside, we do not see a good RR, so will give it a miss. But if we open with a gap up and see resistance at the marked seller reference, then will look to short with reduced quantity. Targets to look will be 17620,17576 and finally today's low @ 17482.
The context is definitely not bearish from where it stands currently. If we see a flat open and we break 17620 on the upside after initial 15 mins, then we can immediately take longs with SL of 16585 and look for initial target of today's high @ 17734 and final targets at the previous seller reference area of 17783-17843.
On the downside, we do not see a good RR, so will give it a miss. But if we open with a gap up and see resistance at the marked seller reference, then will look to short with reduced quantity. Targets to look will be 17620,17576 and finally today's low @ 17482.
Comment:
Longs above 17620, CMP 17583