Resistance Level : 1. Good Resistance Zone exists at 35600-35800. 2. Stronger Resistance at 35500 . 3. Strongest Resistance at 36000.
Support Level : 1. 35000 is Strongest Support Level . 2. 34800 is a Strong Support. 3. 35200-300 is Good Support Zone .
Sideways Possibility: More Sideways above 35300 to 35500 in first half, if market sustains below 35500
Cup & Handle Breakout Levels: 35300 and 35550 as shown by violet color arrows.
Trend Line : Buy above green Trend Line when it reverses from it. Buy above levels as indicated by green arrows. Sell Below Green Trend Line and at levels 35500 when you see a reversal.
This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, it motivates me to do analysis and do share with your friends as well.
Thank you so much.
But just keep one thing in mind that My levels too get broken as day progresses, so trade according to the rule I usually say :
"Follow the market and then take a Trade, and do not predict and Trade".
vishug1971
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At 9.30 on 35500 LVL Gravestone Doji formed next candle registered downwards move, in this case how to find confirmation Sirji
Gravestone candle formation at Resistance level was itself a confirmation candle.
Please revise my Gravestone Candle trading strategy ... just look how small the stop loss was ... and how big the target was ..
Secondly at 12.50 a hammer formed on 35300 support lvl, considering the bull movement with next candle which is a momentum bar, where ahould have been the entry bit confused, please guide me, stop-loss would be 35290
Or at 12:30 a long legged candle formed just closing body below the lvl of 35300 followed by by a bullish candle should it be considered for trade?
MarimuthuSuppaya
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Close observation with strict discipline at market structure, area of value , exit and entry triggers and price rejection do matter. Let us see what the chart is trying to tell us.