BANK NIFTY
Important levels for 20/10/2022.
We opened above previous day range but slowly came inside the range from yesterday and eventually closed inside yesterday's as well as today's VA. The index has been mostly volatile for last two sessions with neither the buyers nor the sellers seeing any sort of follow through.
Today the sellers were largely n control but we were not able to break PDL. For us to see any sort of good move to the downside we need to clear 40210. Once we break it we can take shorts with SL of 40280 for targets of 40040, followed by the buyer reference zone 39932-39960. Sustaining below it we can test another buyer reference of 39775-39846.
Not expecting much of an up move for this expiry, but if we open with a gap then would look for scalps else will be avoiding longs tomorrow.
We opened above previous day range but slowly came inside the range from yesterday and eventually closed inside yesterday's as well as today's VA. The index has been mostly volatile for last two sessions with neither the buyers nor the sellers seeing any sort of follow through.
Today the sellers were largely n control but we were not able to break PDL. For us to see any sort of good move to the downside we need to clear 40210. Once we break it we can take shorts with SL of 40280 for targets of 40040, followed by the buyer reference zone 39932-39960. Sustaining below it we can test another buyer reference of 39775-39846.
Not expecting much of an up move for this expiry, but if we open with a gap then would look for scalps else will be avoiding longs tomorrow.
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