Important levels for 11/10/2022.
We witnessed an interesting session today and despite all negative news around our markets are having a mind of their own. A big gap down to open with and a wonderful rally till PDH and then some pullback with a close which will make the buyers happy.
For tomorrow, if we open flat and move above 39266, we can take longs with a 60-70 point SL and look for initial target of 39388 and 39444 followed by the old seller reference of 39549-39615. If we still witness more buying we can see 39725 and 39923. In case op gap up, would like to wait to see how we move in the first 15 mins and then take positions as per the data.
Similarly if we open flat and move below 38982, we can short with a 50-60 point SL and look for targets of 38770 and 38594. But if we witness a gap down open, would prefer to wait and short as per the data at that time.
We witnessed an interesting session today and despite all negative news around our markets are having a mind of their own. A big gap down to open with and a wonderful rally till PDH and then some pullback with a close which will make the buyers happy.
For tomorrow, if we open flat and move above 39266, we can take longs with a 60-70 point SL and look for initial target of 39388 and 39444 followed by the old seller reference of 39549-39615. If we still witness more buying we can see 39725 and 39923. In case op gap up, would like to wait to see how we move in the first 15 mins and then take positions as per the data.
Similarly if we open flat and move below 38982, we can short with a 50-60 point SL and look for targets of 38770 and 38594. But if we witness a gap down open, would prefer to wait and short as per the data at that time.