shiv2798

Adani Power Long or Short ??

NSE:ADANIPOWER   ADANI POWER LTD
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2
Price action is still in undecided condition , if price drops and rest on 39. 05 and rebound it will reach 41.30 if brakes the level of 39 then you can look for 36.10
Monday will be clear deciding day of direction let wait and watch
Cheers
Comment: Again it was witnessed by my trading experience and price action trading style , which require not indicators except the support and resistance , everyone was wishing bull ride when posted it on 26 March 2017, and on that day also I noticed it is apparently on peak high , but when news came it dropped exactly to the same historical price level of support , one has to understand the support and resistance in clear manner during taking decision of day trading or swing trading , No doubt Next day the price further move downward due to selling pressure , on that day when it failed my 1st instance was it will move beyond the historical support level , but it stood and price halting at strong support level indicates the area is demand area where the intuitional investors will be looking to buy , I'm still trying my level best to perfect my practice in this Support and resistance identifying and understand the move
Cheers

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