There is a Supply Zone on Weekly Chart @ 17800-17900 and Supply Zone on Daily chart @ 17850-17900. There is Demand Zone on Weekly Chart @ 17400-17450 and Demand Zone on Daily Chart @ 16780-17745.
Normally there should be a follow through in price from weekly supply zone but Nifty is taking support from it's daily demand zone. Also there is a positive RSI Diversion on Daily Chart.
There is a higher probability of breakout.
Comment
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Comment
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Strong Price Action from 17800-17900 Supply Zone. it needs to clear the Supply zone with strong price moment to convert supply zone into demand zone.
Trade closed manually
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Profit Booked... Will Take a Long Position again once it will sustain above 17935