Important Levels for 01/09/2022.
With the VA shifting to the upside in the last minutes, either the morning longs have booked out of their positions or smart money have taken positions. On Thursday if we cross today's high and sustain above it for the first 5 mins, we can see another round of buying till the old seller reference of 17938-17980.
But if we start trading lower, we need to wait and watch what happens in the zone of 17717-17757 to build positions. If we find support that will be a signal for longs with initial target of today's high @ 18860, but if we slid down, we can sell with reduced quantity for targets of 17600,17553 and 17492. The Sl has to be trailed aggressively for this trade.
With the VA shifting to the upside in the last minutes, either the morning longs have booked out of their positions or smart money have taken positions. On Thursday if we cross today's high and sustain above it for the first 5 mins, we can see another round of buying till the old seller reference of 17938-17980.
But if we start trading lower, we need to wait and watch what happens in the zone of 17717-17757 to build positions. If we find support that will be a signal for longs with initial target of today's high @ 18860, but if we slid down, we can sell with reduced quantity for targets of 17600,17553 and 17492. The Sl has to be trailed aggressively for this trade.