Important Levels for 05/08/2022. If we open flat, any price rejection seen at the reference region of 17380-17425 can be used as an entry for shorts will SL of 25-30 points and we can look for targets of 17320,17280 and 17250. If price sustains above 17325, we can take longs with SL of 17400 for targets of 17470 & 17500. In case of a gap up, i shall wait for proper price action before initiating trades. If we see a gap down, 17230-17250 can act as support and longs can be planned if we see good volume support for targets of 17310,17330 and 17380. SL can be of 20-25 points, In case of a big gap down, will prefer to sit tight till the price is not above 17200 and then plan longs, shorts only below Day low.