Price has reacted to a Monthly Supply in the left side, after reacting to the Monthly Supply Price has confirmed downward potential in the Daily chart forming a Supply and there is a Fresh Monthly Demand formed and Price has to retrace into this Fresh Demand hence downmove of 700 plus points.
ENJOJY THE RIDE ! ! !
Price has been violating Demands and respecting Supply zones since last week, Now yesterdays closing has happened into a Daily Engulfing Supply,
17428.20 is the LEVEL to be achieved.
Price was in Uptrend since 13 June 2022, Price has closed outside the Trendline also we have Weekly Demands violated and now we hava a Fresh Supply formed, Price should respect this supply and come to its first Support @ 17428.80, then it can either turn and shoot or continue till the Demand in the Bottom @ 16275.50.
NIFTY 17400 PE would be the Trade of the...
