Important Levels for 11/11/2022.
Definitely the weaker one of the two indices. At CMP 18097, we are at a crucial point, considering the VP from the start of this contract, we traded entirely below the VA but considering the VP of last week, the VA has just shifted down and once we move and trade above today's high @ 18150, we can see a clean 100 point move on the upside. Longs can be taken at 18150 with 18130 as SL for targets of the seller reference zone 18240-18290.
But if we witness a gap up, then would avoid longs and see how volumes pan out and plan positions accordingly. If we see sellers coming in then we can short for targets of 18090-18100.
Definitely the weaker one of the two indices. At CMP 18097, we are at a crucial point, considering the VP from the start of this contract, we traded entirely below the VA but considering the VP of last week, the VA has just shifted down and once we move and trade above today's high @ 18150, we can see a clean 100 point move on the upside. Longs can be taken at 18150 with 18130 as SL for targets of the seller reference zone 18240-18290.
But if we witness a gap up, then would avoid longs and see how volumes pan out and plan positions accordingly. If we see sellers coming in then we can short for targets of 18090-18100.