Important Levels for 24/11/2022.
A small gap up to open with, and first 15 minutes of good buying and then we were stuck inside a 30 point range throughout before the volatility kicked in. The data from OF suggests we can say late buyers are trapped in the zone marked 42795-42861.
For tomorrow, if at all we see an opening between 42795-42861 and we see sellers coming in we can short the index with SL of 50-60 points for targets of today's buyer reference zone 42650-42683. Price sustaining below it can test 42600 and today's low @ 42552. But if we open flat and break the buyer reference zone, it would be wise not to take shorts there as the first candle today had good buying and there is a high chance that the levels will be defended the first time it comes there (not advised to take longs in these ranges also).
For us to take longs, we need a gap at the open. If it opens with a gap up, and moves above today's high longs can be considered. Or else if we open with a gap down inside or below the range of the first candle of today we can take a quick trade with SL of 42550 and look for atleast 1:2 rewards.
A small gap up to open with, and first 15 minutes of good buying and then we were stuck inside a 30 point range throughout before the volatility kicked in. The data from OF suggests we can say late buyers are trapped in the zone marked 42795-42861.
For tomorrow, if at all we see an opening between 42795-42861 and we see sellers coming in we can short the index with SL of 50-60 points for targets of today's buyer reference zone 42650-42683. Price sustaining below it can test 42600 and today's low @ 42552. But if we open flat and break the buyer reference zone, it would be wise not to take shorts there as the first candle today had good buying and there is a high chance that the levels will be defended the first time it comes there (not advised to take longs in these ranges also).
For us to take longs, we need a gap at the open. If it opens with a gap up, and moves above today's high longs can be considered. Or else if we open with a gap down inside or below the range of the first candle of today we can take a quick trade with SL of 42550 and look for atleast 1:2 rewards.