Important Levels for 19/10/2022.
We witnessed a closing inside the VA and with immediate buyer and seller references close by, it would be wise to watch out whether we break the seller reference zone 17545-17565 or the buyer reference area of today 17458-17472. Till we rotate inside the middle of this we wont be taking any positions.
Once we break below 17458, we can look for targets of 17420,17367 and the VA from yesterday @ 17280-17315. SL will be 25-35 points.
On the upside when we break and trade above 17565 we can see a good move on the upside as the nearest seller reference is at 17693-17744.
Being patient and protecting capital in these small rotational areas will definitely yield wonderful returns.
We witnessed a closing inside the VA and with immediate buyer and seller references close by, it would be wise to watch out whether we break the seller reference zone 17545-17565 or the buyer reference area of today 17458-17472. Till we rotate inside the middle of this we wont be taking any positions.
Once we break below 17458, we can look for targets of 17420,17367 and the VA from yesterday @ 17280-17315. SL will be 25-35 points.
On the upside when we break and trade above 17565 we can see a good move on the upside as the nearest seller reference is at 17693-17744.
Being patient and protecting capital in these small rotational areas will definitely yield wonderful returns.