Comparison of Sept 20 (daily tf) announcement with the one on May 12 (hourly). Former retraced 62% latter is currently at 88%. Former was during market hours and stretched with a gap up next morn. Latter was post market and gap opening gave it away. Crucial support at 8950. Resistance 9300 and then 9450.
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The former completed retracement in 10 daily candles/bars. The latter is on 12 hourly candles/bars
What exactly does this infer ? Are you stating is no trading zone ?
I'm long @9,180 with large qty.
Indian Futures is new to me, Although i'm a investor in U.S. market,
Dinesh_C_Nagpal
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@vishalpan, Yes, while its too close to a crucial support level of 8850-8950, it is yet to give a reversal signal. So waiting game, either breakdown below 8800 or confirmation of reversal required for retest of 9300/9500
vishalpan
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@Dinesh_C_Nagpal, Understood sir, thanks for your guidance, i appreciate it !!