BANK NIFTY
Important Levels for 21-10-2021.
The index just refused to go down today despite Nifty's continuous fall, we were not able to break yesterday's low and we had the price inside yesterday's range today.
39400 once broken, we can take comfortable shorts for targets of 39290,39200 and 39100. SL can be placed at 39480.
If we see a flat to small gap up opening then the trend line can act as resistance for initial target of 39580 followed by 39500 and 39400.
In case of massive gap up and gap down, waiting for good price action before initiating new positions can be a safe bet.
Option chain indicates good put addition at 39400 and below levels we can see a sideways expiry with range between 39400-39800.
The index just refused to go down today despite Nifty's continuous fall, we were not able to break yesterday's low and we had the price inside yesterday's range today.
39400 once broken, we can take comfortable shorts for targets of 39290,39200 and 39100. SL can be placed at 39480.
If we see a flat to small gap up opening then the trend line can act as resistance for initial target of 39580 followed by 39500 and 39400.
In case of massive gap up and gap down, waiting for good price action before initiating new positions can be a safe bet.
Option chain indicates good put addition at 39400 and below levels we can see a sideways expiry with range between 39400-39800.
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