NIFTY
Updated
Important levels for 11/10/2022.
After an interesting session the closing would make buyers more happier than sellers.
For tomorrow a flat open and price sustaining above 17250, we can expect price to see 17312-17337 followed by the old seller reference of 17389-17408. This trade has a lower RR so initial SL cannot be more than 20 points and trailed as per data.
But if we open flat and trade below 17240, risky traders can take shorts with 17260 as SL and look for initial targets of 17190. If price stays below 17190 there is a high probability of price testing 17114-17135 and today's low @ 17050. Safe traders take positions only below 17190.
After an interesting session the closing would make buyers more happier than sellers.
For tomorrow a flat open and price sustaining above 17250, we can expect price to see 17312-17337 followed by the old seller reference of 17389-17408. This trade has a lower RR so initial SL cannot be more than 20 points and trailed as per data.
But if we open flat and trade below 17240, risky traders can take shorts with 17260 as SL and look for initial targets of 17190. If price stays below 17190 there is a high probability of price testing 17114-17135 and today's low @ 17050. Safe traders take positions only below 17190.
Trade closed manually
ENTRY: 17190EXIT: 17130
Reason: Absorption observed in Orderflow charts
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