The Context: The Daily (1D) chart shows a sharp -6.46% drop, closing the session at 163.09. The bears completely took control of the day, pushing price right to the edge of major structural support.
The Demand Zone (Buy Zone): 156.00 – 160.00 (Gray Block). This remains the high-probability interest area. Price is currently hovering just 3 rupees above this floor.
The Supply Overhead (Targets): If demand defends the gray block, initial resistance sits at 164.02 (Green EMA label), followed by a heavy supply cluster between 171.00 – 173.40.
⚡ Execution Strategy: Don't FOMO into the daily close. Let the price bleed into the 156.00 – 160.00 pocket. Look for lower-timeframe exhaustion (wicks or inside bars) to trigger a long position, keeping a tight stop-loss just below 155.00 to target a bounce back toward 171.00+.
The Demand Zone (Buy Zone): 156.00 – 160.00 (Gray Block). This remains the high-probability interest area. Price is currently hovering just 3 rupees above this floor.
The Supply Overhead (Targets): If demand defends the gray block, initial resistance sits at 164.02 (Green EMA label), followed by a heavy supply cluster between 171.00 – 173.40.
⚡ Execution Strategy: Don't FOMO into the daily close. Let the price bleed into the 156.00 – 160.00 pocket. Look for lower-timeframe exhaustion (wicks or inside bars) to trigger a long position, keeping a tight stop-loss just below 155.00 to target a bounce back toward 171.00+.
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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.
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.