2. In past Price has reversed from this zone.
3. Even though the price has broken this zone the voulume is negative that shows the sentiment among traders in the market is . There is a high possiblity of price reaching to 1st Target at 331 and then the 2nd target at 308.
4.Price at Point B on the chart is higher than Point A. However at point D is Lower than point C. This indicates sentiments.
5.Short is the call
6. Please feel free to ask questions, give constructive feedback and your views. Please hit on like, it's an incentive to me and motiviates me to share more setups.
I use line chart to identify support and resistance areas. I start from monthly chart then move to weekly, then dail and then four hourly. The colour pattern that I have developed is Orange for monthly, blue for weekly, Green for daily and if I mark support and resistance in 4 hour time frame then I use pink or some other colour. The reason for this colour coding is beucase it helps me to identify strong S/R areas
Please refer to the ITC chart that I had publised few days back. I had recevied a similar request few days back. link
Select line chart, Start from monthly and move towards daily. You will see the same S/R lines. MarkS/R on the level that looks more obvious to you. Also avoid cluttering your chart with too many S/R lines.
Hope this will help. :)
Thank you for your input. Much appreciated.
I am looking at short term trade get in and get out max within 3-4 days. You are right there can be an upside till 360. My call was on resistance area around 344. I'll keep an eye on monthly. This is a 4 hour chart. Erroneously. I may have mentoned daily. Apologies for any confusion.