Important levels for 14/11/2022.
The index looks bullish with such a big gap up being sustained and relatively lesser selling volumes.
In case of a flat open on Monday, we can wait for PDH @ 42438 to be cleared and then take longs with a 50-60 point SL and look for RR of minimum 1:2 and the keep trailing our positions as we do not have any upper references to look forward. Another instance where we can take longs is if we see a gap down open followed by buying @ 42050 levels and here we can look for targets of 42330 and 42440.
For shorts we can short comfortably, if we open flat and move below 42050 levels. The targets to look forward shall be the buyer reference zone 41657-41732. Sustaining below this can test older buyer reference zone 41400-41487.
The index looks bullish with such a big gap up being sustained and relatively lesser selling volumes.
In case of a flat open on Monday, we can wait for PDH @ 42438 to be cleared and then take longs with a 50-60 point SL and look for RR of minimum 1:2 and the keep trailing our positions as we do not have any upper references to look forward. Another instance where we can take longs is if we see a gap down open followed by buying @ 42050 levels and here we can look for targets of 42330 and 42440.
For shorts we can short comfortably, if we open flat and move below 42050 levels. The targets to look forward shall be the buyer reference zone 41657-41732. Sustaining below this can test older buyer reference zone 41400-41487.