Not bad, not bad! Each level did work quite perfectly, isn't it? It was clearly stated that 3422 will be the most crucial level to watch out for the day and we came below that on the opening bell and gave a bounce up to 3428 (gave a shorting opportunity), then as I told about 3388, it made low of 3386 and guess what , we got a bounce up to 3415 (another shorting opportunity) and guess what went further down and 3342 day low was recorded in line with the support given 3349-3330.
Now what? Another day and some other levels to work with. So today 3325 will be the key level to maintain the short term momentum. Though its not enough, yes we can certainly jump up to somewhere around 3425 in case we sustain above 3325, but 3425-3430 will be the levels for the bulls to cross to negate the bearishness entirely. So above 3325, we can get 80-100 point volatile (as we are on expiry) range to trade with. And below 3325? Dear friends, I'll be expecting 3270-3110 (yes 3110 will be short term target) without dampening the intermediate bullishness. So folks, be ready for a volatile but widely ranged day (volatile only above 3325). So for the day,
Support: 3325-3270-hushhhhhhhhh 3110!!
Resistance: 3379-3425 (in between 3400, but negligible)
All future levels!
(15 min chart attached)
Ciao!!
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