Price gave good movement in the morning session and moved with less momentum which resulted a channel pattern in the afternoon session. Note : Price may be volatile because of the upcoming budget on Feb 1. Support zones - 20280 to 20320 and 20480 to 20520. In case of gap up/gap down these levels may act as resistance also.
Buy above 20520 with the stop loss of 20480 for the targets 20560, 20600, 20660 and 20720. Sell below 20400 with the stop loss of 20450 for the targets 20360, 20320, 20280 and 20220. These levels are derived based on the assumption that price will decide the trend direction at the zone 20480 to 20520.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
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Trend line walking.
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Unable to sustain 20520.
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31st Jan price took support from the mentioned support zone 20280 - 20320.