Important Levels for 25-10-2021.
The index looks as if it has potential for more down move and the option chain indicates that too. But with price hovering close to 18000 level ad Reliance posting good results we can see a bit of consolidation now.
Will be interested to short if we trade below 18050, with SL of 18080 for targets of 18010,17970 and 17900.
If we trade and sustain above 18200, we can look for long positions above 18220 with an SL of 18200 for targets of 18250,18285 and 18310. Price sustaining above 18310 will take it to 18400 and above.
If we open with a gap up, 18200-18220 and 18300-18340 will be major resistance zones and -ve price action supported by volumes can be a trigger for entry for shorts, SL will be of 20 points for targets of 40+ points.
The index looks as if it has potential for more down move and the option chain indicates that too. But with price hovering close to 18000 level ad Reliance posting good results we can see a bit of consolidation now.
Will be interested to short if we trade below 18050, with SL of 18080 for targets of 18010,17970 and 17900.
If we trade and sustain above 18200, we can look for long positions above 18220 with an SL of 18200 for targets of 18250,18285 and 18310. Price sustaining above 18310 will take it to 18400 and above.
If we open with a gap up, 18200-18220 and 18300-18340 will be major resistance zones and -ve price action supported by volumes can be a trigger for entry for shorts, SL will be of 20 points for targets of 40+ points.
Feragatname
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