Decision Zone:- 34,131 - 34,033
Resistance:- 34,430 / 34,645 / 35,100
Support:- 33,583 / 33,305 / 32,751
The move from 29,687.8 to 37,708.75 is 8021 point rally,we have retraced 50% (33,698), current low is 33,597.
was 34,645 which was breached and we touched , now if today's low is broken, we move toward which is placed at 32,751 (last hope for bulls), if this support is breached we head towards 100% retracement towards 29,687.
Important level is 34,485 & 38.2% fall is 34,645:- Ideally no longer till we cross 34,650 levels and we get a daily closing above this level.
Three Black Crow ( Reversal with high reliability, detected on 16th Mar'2021) was detected on the . GAP on the daily chart:- 33,305 - 33,583, ideally should work as support, if this gap is broken we head towards lower level.
On an hourly time frame, 34,430 - 34,645 is a tough , until it's crossed, we will continue to remain under pressure.
Moving Averages on 1D time frame:-
In Sell mode:-
In Buy Mode:-
RSI:- 40 .496 (in Sell mode)
Important Point:- 34,485
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.