Important Levels for 22/11/2022.
The index is stuck inside a small range and absence of big volumes is making it difficult to take intraday positions. The buyers are not showing intent at higher levels and sellers not ready to sell at lower levels.
For tomorrow if we open flat and move above 42385. we can take longs with a 50-60 point SL and look for targets of the seller reference zone 42489-42583. But if we open with a gap up around the seller reference zone, then we can take shorts and aim for targets of 42262-42290. In case we see an opening between 41290-41380,which is the weekly composite VA and also the composite VA from 04th November it is strictly advised not to open new positions and wait for either of the range to break.
If we see price sustaining below 42260, we can see the old buyer reference zone 42141-42175 being tested. On a positional point of view, sustaining below 42140 the buyer reference of 41637-41732 can be the potential targets.
The index is stuck inside a small range and absence of big volumes is making it difficult to take intraday positions. The buyers are not showing intent at higher levels and sellers not ready to sell at lower levels.
For tomorrow if we open flat and move above 42385. we can take longs with a 50-60 point SL and look for targets of the seller reference zone 42489-42583. But if we open with a gap up around the seller reference zone, then we can take shorts and aim for targets of 42262-42290. In case we see an opening between 41290-41380,which is the weekly composite VA and also the composite VA from 04th November it is strictly advised not to open new positions and wait for either of the range to break.
If we see price sustaining below 42260, we can see the old buyer reference zone 42141-42175 being tested. On a positional point of view, sustaining below 42140 the buyer reference of 41637-41732 can be the potential targets.