NIFTY
Important Levels for 18-11-2021.
It looked like the bears wanted the price to go up again to take new positions and eventually took control to end prices lower.
For tomorrow, once we start trading below 17880, we can take short positions with SL of 18905 for targets of 17840,17810 and 17775.
If we see price opening tomorrow with a gap up, 17920-17950 should act as an resistance and our entries can be made here, with similar targets and SL of 17980.
If we see a gap down opening, we shall wait for the initial pullback and then look for shorts once we are sure of price action.
Option data indicates 18000 to be a strong resistance and the expected range for tomorrow can be 17800-18000.
It looked like the bears wanted the price to go up again to take new positions and eventually took control to end prices lower.
For tomorrow, once we start trading below 17880, we can take short positions with SL of 18905 for targets of 17840,17810 and 17775.
If we see price opening tomorrow with a gap up, 17920-17950 should act as an resistance and our entries can be made here, with similar targets and SL of 17980.
If we see a gap down opening, we shall wait for the initial pullback and then look for shorts once we are sure of price action.
Option data indicates 18000 to be a strong resistance and the expected range for tomorrow can be 17800-18000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.