Important Levels for 14/11/2022.
This index is at an important zone and we have managed to close marginally above all VAs but it cannot be said with complete confidence that buyers are pulling the strings.
For Monday, if we see a flat open and we have a small dip till 18422, w can take longs with SL placed at 18400 for targets of the seller reference zone 18521-18543. If we miss the entry we can again take positions once we trade above 18450 for the same targets.
With multiple supports nearby, we can short only if we see a big gap up at the open near the seller reference zones for targets of 18440, yesterday's VA 18374-18384 followed by 18328-18340. If we open with a gap down between 18328 and 18384 levels, we shall look to see if the buyers defend the zones and take longs if we see buying volumes coming in and if we break PDL @ 18320 then we can also short.
Will update if I witness any massive shift of sentiment, unless that happens buying the dips looks a wiser option.
This index is at an important zone and we have managed to close marginally above all VAs but it cannot be said with complete confidence that buyers are pulling the strings.
For Monday, if we see a flat open and we have a small dip till 18422, w can take longs with SL placed at 18400 for targets of the seller reference zone 18521-18543. If we miss the entry we can again take positions once we trade above 18450 for the same targets.
With multiple supports nearby, we can short only if we see a big gap up at the open near the seller reference zones for targets of 18440, yesterday's VA 18374-18384 followed by 18328-18340. If we open with a gap down between 18328 and 18384 levels, we shall look to see if the buyers defend the zones and take longs if we see buying volumes coming in and if we break PDL @ 18320 then we can also short.
Will update if I witness any massive shift of sentiment, unless that happens buying the dips looks a wiser option.