Important Levels for 18-08-2022.
The way the index is behaving major moves are happening overnight and intraday ranges are too tight to aim for big targets.
The index has closed at good levels and above the surge by late buyers. The last leg of the up move today has good buyers in the zone between 39410-39440 and if by any chance we open flat or with a small gap down, we can expect another round of buying. SL can be placed at 39365 and the targets we can look to is 39500,39540.
If we open with a gap up and sustain above 39550, we can see another move till 39700 levels.
Any gap down most likely will be bought. No shorts unless we break 39260 levels and if it does we can short for targets of 39000.
The way the index is behaving major moves are happening overnight and intraday ranges are too tight to aim for big targets.
The index has closed at good levels and above the surge by late buyers. The last leg of the up move today has good buyers in the zone between 39410-39440 and if by any chance we open flat or with a small gap down, we can expect another round of buying. SL can be placed at 39365 and the targets we can look to is 39500,39540.
If we open with a gap up and sustain above 39550, we can see another move till 39700 levels.
Any gap down most likely will be bought. No shorts unless we break 39260 levels and if it does we can short for targets of 39000.
Trade active:
Longs from 39440, TSL at 37610