dhananjay.d.joshi

Nifty approaching the supply zone

NSE_EOD:NIFTY   NIFTY 50
snapshot

As we are approaching the upper line of down trend channel of nifty             we need to be ready for big move from those levels,
1) Price can take resistance and reverse
2) Price can trade along the line and move side ways
3) price can move out of channel with force

If we want to trade 1st and third possibility then wait for followup on next day.

Never try to judge top or bottom just be ready to trade if price allows to do so :-)
Trend is our friend
Price holted at our supply zone , traders be ready for big move in coming days. Use same chart for next week .
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AMBRISH
a year ago
Thanks for chart and levels , green is demand zone and support for Nifty
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We are out of down trend channel and few points away from traget, expect market tohalt at supply zone which is just above the price. Be ready for big move at those levels . For last 40 +- trading days price is not correcting in price its correcting in time only. Lets see what it will do this time.
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AMBRISH dhananjay.d.joshi
10 months ago
Thanks for update. good set up.
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