Strategy for Entry:
Wait for Confirmation:
Monitor the ₹6,000 zone closely. If the price stabilizes or forms bullish reversal patterns (e.g., hammer, engulfing), consider entering.
RSI Divergence:
Look for positive RSI divergence (price makes lower lows, but RSI makes higher lows) near support for confirmation.
Risk Management:
Place a stop-loss below ₹5,900 to minimize risk in case the support fails.
Target previous resistance levels for profit, such as ₹7,200.
Wait for Confirmation:
Monitor the ₹6,000 zone closely. If the price stabilizes or forms bullish reversal patterns (e.g., hammer, engulfing), consider entering.
RSI Divergence:
Look for positive RSI divergence (price makes lower lows, but RSI makes higher lows) near support for confirmation.
Risk Management:
Place a stop-loss below ₹5,900 to minimize risk in case the support fails.
Target previous resistance levels for profit, such as ₹7,200.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.