Important levels for 18/10/2022.
The buyers emerged stronger and we managed to close at day's high and also well above the range we were stuck in since last two weeks.
Tomorrow, if we see a flat opening we can get good trades on the long side. Any dips till 39932-39960 can be used as an opportunity to add longs. The initial target to look forward is 40045 and once we cross it there is a possibility of a trending day and the index testing the old seller reference at 40735-41004.
Shorting the index should be strictly avoided unless we sustain below 39760 or we witness a massive gap.
The buyers emerged stronger and we managed to close at day's high and also well above the range we were stuck in since last two weeks.
Tomorrow, if we see a flat opening we can get good trades on the long side. Any dips till 39932-39960 can be used as an opportunity to add longs. The initial target to look forward is 40045 and once we cross it there is a possibility of a trending day and the index testing the old seller reference at 40735-41004.
Shorting the index should be strictly avoided unless we sustain below 39760 or we witness a massive gap.