Important levels for 18/11/2022.
Another inside day coupled with low volumes. If we look at the chart staring from last friday till today, it can be clearly seen that today's last two candles have huge volumes but if we do not consider the liquidity created in the last two candles it was a very low volume day. The high made was 18473 where we saw a large lot order being executed but barring that major sell volumes came in at 18425 levels. Also it is to notice that we have closed at a buying reference area but well below the composite VA.
For tomorrow, if we open flat and find rejection between 18380-48425 then we can short with a 15-20 point SL for initial targets of 18319. Price breaking and sustaining below 18319 can see a big sell off till the old buyer reference zone 18176-18220.
Longs we can avoid for tomorrow. If we get any good RR for intra longs, will update.
Another inside day coupled with low volumes. If we look at the chart staring from last friday till today, it can be clearly seen that today's last two candles have huge volumes but if we do not consider the liquidity created in the last two candles it was a very low volume day. The high made was 18473 where we saw a large lot order being executed but barring that major sell volumes came in at 18425 levels. Also it is to notice that we have closed at a buying reference area but well below the composite VA.
For tomorrow, if we open flat and find rejection between 18380-48425 then we can short with a 15-20 point SL for initial targets of 18319. Price breaking and sustaining below 18319 can see a big sell off till the old buyer reference zone 18176-18220.
Longs we can avoid for tomorrow. If we get any good RR for intra longs, will update.
Trade closed manually:
Exited shorts at 18360 as there was a shift in VA to the downside.