Level around 113 has been an important resistance zone, (purple shaded area)
On 25th july there was a breakout through this level accompanied with higher volume
After that there was a pullback,
and retest of the level around 113, which has now turned into support
After the retest, vol also increased indicating bullish strength
Oscillators are also in favour of bulls
Level of 129.8 (white horizontal line) is the next resistance after 122.8 (previous high)
All the white lines marked are further resistance levels
Keep SL of 113, Keep RR Ratio of 1:1 or above
For a Short Term Trade keep tgt 124
Tgts can be increased to further resistance levels depending on risk profile
On 25th july there was a breakout through this level accompanied with higher volume
After that there was a pullback,
and retest of the level around 113, which has now turned into support
After the retest, vol also increased indicating bullish strength
Oscillators are also in favour of bulls
Level of 129.8 (white horizontal line) is the next resistance after 122.8 (previous high)
All the white lines marked are further resistance levels
Keep SL of 113, Keep RR Ratio of 1:1 or above
For a Short Term Trade keep tgt 124
Tgts can be increased to further resistance levels depending on risk profile
Trade closed: stop reached