BANK NIFTY
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Important Levels for 12-07-2021.
Simply looking at last session's activity we can say that the bulls were slightly more dominant but looking at the last 4-5 week's activity we are still trading within a 900 point Value Area (34600-35500) and until we break the complete range a massive move is not expected.
Talking about scenarios for Monday, will be interested to take longs above 35380 for targets of 35510-35530 and will look to short below 35120 levels for target of 34930-34960 levels. These trades if taken should be taken with small quantity, a strict SL and trailed aggressively as these are low conviction trades, To be on the safer side longs should be taken above 35550 for targets of 35650 and 35750.
A volatile day is expected, trade safe.
Simply looking at last session's activity we can say that the bulls were slightly more dominant but looking at the last 4-5 week's activity we are still trading within a 900 point Value Area (34600-35500) and until we break the complete range a massive move is not expected.
Talking about scenarios for Monday, will be interested to take longs above 35380 for targets of 35510-35530 and will look to short below 35120 levels for target of 34930-34960 levels. These trades if taken should be taken with small quantity, a strict SL and trailed aggressively as these are low conviction trades, To be on the safer side longs should be taken above 35550 for targets of 35650 and 35750.
A volatile day is expected, trade safe.
Nota
Trade1: 35315-35200Wanted to short early but lack of volumes stopped any entry.
Patience pays
Penafian
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