we can see the formation of head and shoulder pattern which is a trend reversal pattern in uptrend and the price is at neckline and we can also see bearish dma crossover so we can see 3 green arrows at different levels which will act as S1, S2, S3 , S3 is a very strong one we can accumulate if price comes there (S3 is covid level) or we can buy on dips at different support levels, or simply we can buy when bullish dma crossover happens for intradays look for candle stick patterns and use 3ema crossovers of 14, 21,50 with rsi & macd based on those support and resistance levels disclaimer- trade at your own risk this is just my idea and view this is not an investment or trading call thankyou for reading
@mformayuresh, 1292 might act as resistance from now on so watch for that level in short term, the candle formed is hanging man which is bearish candle so probability that it continues bearish is high,disclaimer this is not an investment call just my view and for educational purpose only
mformayuresh
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@gunturusurya, Thank you so much sir.
what is current support?
techno_funda_guy
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@mformayuresh, by tomorrom candle we can confirm if 1292 will act as support or resistance, as you can see if tomorrow candle faces resistance at 1292 and forms bearish then we can expect covid level third support to be tested tomorrow candle will give conformation,,, you can see on the chart if 1292 is broken,1214 is expected always consider + (or) - 20 points for support and resistance(around 1% deviation),this is a day chart so you cant expect for tomorroms support if want to consider tomorrom support prefer 15 min chart and can predict when market is going on but cant say day before we must change dynamically based on 15 min chart if for intraday ,,but if price moves above 1292 it will act as support or resistance so that is a confirm level for now , this chart is preferable for swing positions,,
mformayuresh
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@gunturusurya, Thanks sir for great explaination.
techno_funda_guy
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@mformayuresh, 1263 todays low might act as support mean while based on dpr or pivot point