More chance of sideways on flat opening.
Above 35000, target 35150. But is it likely to reverse from 35000 levels. Trade cautiously on upside. One can wait for 35150 break for long.
Below 34750, it can go back to 34500 to 34200 levels.
Levels marked in the chart are based on monthly weekly high lows. Monthly and weekly support and resistance play very critical...
Yesterday BNF was sideways. Today also it can remain sideways. 35000 is a strong resistance. If trade above 35100 for 15 minutes, 35350 is the target on upside.
Similarly, 34850 is a strong support. If broken, 34600 can be a quick target followed by a recovery towards 34800.
If we look at OI data. 35000 is having a lot of calls written. If BNF manages to trade...
There is strong trendline resistance up front and that too will collapse with opening. BNF can continue to make LH-LL.
Trade plan on gap up: possibility of small pullback before continuing journey towards 36000. Go long after the retest of trendline.
Gap down: this will be a continuation of LH-LL pattern and can be a big fall.
Neutral opening: go long above...
Scenario 1: gap up 400+ points around 33300. If sustain above 33250. Go long. Target 33500. If reverses from high of 33300 and goes below 33100. Sell. Target 32800.
Scenario 2: gap down 400+ points around 32500. If goes below this, sell. Target 32200. If sustain at 32500 level, one can go long for the target of 32800 on level breakout. Market can reverse from...
