dhananjay.d.joshi

Nifty Channel and Demand Supply Analysis

NSE:NIFTY   NIFTY 50
snapshot

There are several methods of plotting price channel, in my opinion drawing it from closing value is more logical when we are looking at long term charts.

Considering this we are out of recent down trend channel and yet to close above main down trend channel, the supply zone and channel are crossing each other just above current price. we can expect very strong resistance around this level.

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AMBRISH
7 months ago
Thanks for fresh update on Nifty.
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dhananjay.d.joshi
7 months ago
As expected price is not able to go above the red zone (supply zone)
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AMBRISH
7 months ago
It is time to short nifty ,
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dhananjay.d.joshi AMBRISH
7 months ago
Yes.
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AMBRISH dhananjay.d.joshi
7 months ago
Thanks.
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AMBRISH
7 months ago
Next support at 7755 7601 and 7525.
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dhananjay.d.joshi AMBRISH
7 months ago
Yes around 7762 and 7591 one can book the profits.
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AMBRISH dhananjay.d.joshi
7 months ago
Thank You,
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