----------->>the stock is trending upwards in daily time frame. now the price is facing resistance 44000 levels.
------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend.
------------>> Yesterday the price is in ranging.
------------>> the previous supply zone@43900-43850 clearly resisting the price to go down.
------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels.
------------->>If price clears both these supply and demand zones, price heavily falls below 43400 levels and reach to 43100-43000 levels.
------------->> Keep track these zones, will the range be broken or not.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels.
be careful here false breakouts may happen at these levels.
Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend.
------------>> Yesterday the price is in ranging.
------------>> the previous supply zone@43900-43850 clearly resisting the price to go down.
------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels.
------------->>If price clears both these supply and demand zones, price heavily falls below 43400 levels and reach to 43100-43000 levels.
------------->> Keep track these zones, will the range be broken or not.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels.
be careful here false breakouts may happen at these levels.
Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
Note
this zone 43900-43850 has to reject to fall moreNote
If price creates Supply Zone, then sell again here.Note
Note
this retracement is for sell again??Note
can we go for shortTrade active
trade active on breaking the lowTrade closed: stop reached
After a long time stop loss hits.Note
Note
Note
price is in supply zone, demand created @43600 fails, we sell for the target of 43420,43320 levels.Note
Note
Price again wants to test the supply @44050 -44010Note
If price agains falls below 43900-435, we go for short with Sl of 44040
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**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
" i am a IT-Trader "
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
" i am a IT-Trader "
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.