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WavesandZones
Dec 22, 2023 6:30 AM

BankNifty should retrace into this Weekly Demand Short

Nifty Bank IndexNSE

Description



Whenever the Price deviates up from the Moving Average, Price either falls to the EMA or the EMA moves up top the Price,

We here see a Fresh Weekly Demand formed which has exceeded the opposite Supply hence a Valid Demand.



Price has formed a Daily Supply which has exceeded its opposite Demand hence a Valid Source for a Downtrend,


This is the Supply to Demand Equilibrium Curve, showing the odds of long and short positions.

One can short after a downward confirmation in 30 mins/1H
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