Meximum Downside in Nifty
-- On the weekly chart 1st major demand zone was 8100-8350. Last week Nifty closed below this level so now this zone will act as a major supply zone.
-- As per weekly chart nest 1st demand zone @ 7650-7750 2nd demand zone @ 7400-7550. In any case, if Nifty will not hold these two zones then the next major demand zone @ 7000-7100. Also, there is a strong demand zone on the monthly chart @ 6700-6900.
-- I don't think Nifty will sustain below weekly and monthly major demand zones.
Intraday Supply and Demand Zones.
-- As per weekly chart nest 1st demand zone @ 7650-7750 2nd demand zone @ 7400-7550. In any case, if Nifty will not hold these two zones then the next major demand zone @ 7000-7100. Also, there is a strong demand zone on the monthly chart @ 6700-6900.
-- I don't think Nifty will sustain below weekly and monthly major demand zones.
Intraday Supply and Demand Zones.
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