NIFTY
Important Levels for 05-01-2022.
A volatile session ended with a good breakout.
If we open flat and sustain above 17880, we can take longs with SL of 17860 for targets of 17920, 17960 and 18000.
But if we trade lower, we can take shorts below 17850, with SL of 17880, for targets of 17830,17810 and 17780.
A gap up opening and short positions can be taken if we see a negative candle with good volumes.
Gap down opening can see support from 17700-17710 and positions should be taken only after seeing how price behaves at this point.
Option data indicates 17500-18000 to be the trading range this expiry.
A volatile session ended with a good breakout.
If we open flat and sustain above 17880, we can take longs with SL of 17860 for targets of 17920, 17960 and 18000.
But if we trade lower, we can take shorts below 17850, with SL of 17880, for targets of 17830,17810 and 17780.
A gap up opening and short positions can be taken if we see a negative candle with good volumes.
Gap down opening can see support from 17700-17710 and positions should be taken only after seeing how price behaves at this point.
Option data indicates 17500-18000 to be the trading range this expiry.
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