As I’m new to stock market Sir please explain me what’s the black line showing price 660 and blue line showing price 625.75 stands for?
Tarun_Kumar98
⋅
@aju_d, 1. When the market goes a particular level and comes down from that level multiple times, it is called a resistance level, which is 660 in this case(Black Line).
2. But more and more time the market touches the resistance, it becomes weak and chance of breakout increases.
3. 625 is opposite of resistance, and is support of the market (Blue line).
4. So we can buy between 625-660. Keep target at 710 and place stop loss at 590 in case if strategy fails.