BANK NIFTY
Important Levels for 24-06-2021
The resistance zone (34840-34940) acted as expected and the price despite being thereabouts most of the time was not able to break it making it clear the bulls are weak above 34900 and bears although were not that strong still defended the zone.
The previous swing low has been defended well today but tomorrow the first 15 minutes will make things clearer.
A flat opening and we short below 34550 for targets of 35430 followed by 34190-34240 levels. A gap up open will give us chances to short at 34860-34900 for 34580 as our targets.
Longs should be avoided until 34950-35000 levels.
Option chain suggests the range shall be between 34500-35000.
Volatility will be at its peak tomorrow, trade carefully.
The resistance zone (34840-34940) acted as expected and the price despite being thereabouts most of the time was not able to break it making it clear the bulls are weak above 34900 and bears although were not that strong still defended the zone.
The previous swing low has been defended well today but tomorrow the first 15 minutes will make things clearer.
A flat opening and we short below 34550 for targets of 35430 followed by 34190-34240 levels. A gap up open will give us chances to short at 34860-34900 for 34580 as our targets.
Longs should be avoided until 34950-35000 levels.
Option chain suggests the range shall be between 34500-35000.
Volatility will be at its peak tomorrow, trade carefully.
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