Important Levels for 24-11-2021.
We did see aggressive buying once we moved below yesterday's low making it clear that bulls have not yet given up completely and at 17500-17540 we saw good volumes of selling happening also and eventually we closed 50 points above yesterday's close.
Tomorrow if we see a gap up opening or if we open flat and fail to cross 17540 we can take a short position with SL of 17570 for targets of 17440,17400 and 17365.
But if we sustain above 17540, we can go for longs once we sustain above 17540, with SL of 17520 and our potential targets can be 17590,17640 and 17660.
If we open flat and trade lower, we can take short position if we sustain below 17420 with SL of 17450 and aim for 17360 as our target. If we continue to trade below 17360, we can see levels of 17300 also. But today as we witnessed aggressive buying at 17250-17300 levels we can expect another round of buying from these levels.
Any +ve price action at these levels can be a good point to take longs with a SL of 20-25 points and aim for targets of 17360,17400 and 17440.
Option data has seen good put buildup at 17500 levels indicating we can expect an up move. Also having witnessed two high range days, there is a high probability of price being stuck in a small range likely 17400-17550.
We did see aggressive buying once we moved below yesterday's low making it clear that bulls have not yet given up completely and at 17500-17540 we saw good volumes of selling happening also and eventually we closed 50 points above yesterday's close.
Tomorrow if we see a gap up opening or if we open flat and fail to cross 17540 we can take a short position with SL of 17570 for targets of 17440,17400 and 17365.
But if we sustain above 17540, we can go for longs once we sustain above 17540, with SL of 17520 and our potential targets can be 17590,17640 and 17660.
If we open flat and trade lower, we can take short position if we sustain below 17420 with SL of 17450 and aim for 17360 as our target. If we continue to trade below 17360, we can see levels of 17300 also. But today as we witnessed aggressive buying at 17250-17300 levels we can expect another round of buying from these levels.
Any +ve price action at these levels can be a good point to take longs with a SL of 20-25 points and aim for targets of 17360,17400 and 17440.
Option data has seen good put buildup at 17500 levels indicating we can expect an up move. Also having witnessed two high range days, there is a high probability of price being stuck in a small range likely 17400-17550.
Feragatname
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