Torrent Power - potential downmove

YEARLY PIVOT ANALYSIS

• price is currently auctioning back and forth between yearly BC and yearly pivot and over Yearly POC and Yearly L3.
  
• despite the first pullback at double GPZ (Yearly POC and Yearly L3 inside Yearly CPR), price has failed to create new highs.
  
• we have a Yearly money zone at 414 which could bring in yearly responsive buyers.
  
• a strong breakout to the downside would give a significant down move
  

MONTHLY PIVOT ANALYSIS

• we have a lower CPR relation and price opened below CPR indicating a bearish view.
  
• the width of the CPR and camarilla is narrow.
  
• price has traded sideways for almost a month.
  
• the conditions are good for a breakout move.
  
• we have a confluence of resistances from price range of 460 to 466.
  

WEEKLY PIVOT ANAYSIS

• we have a virgin weekly cpr from the month of may 2021.
  

A REJECTION AT MONTHLY CPR WOULD BRING IN MONTHLY RESPONSIVE SELLERS WHILE ANY STRONG BREAKOUT TO THE DOWN SIDE BEYOND MONTHLY MONEY ZONE WOULD BRING IN MONTHLY INITIATIVE SELLERS AND YEARLY INITIATIVE SELLERS FURTHER PUSHING THE PRICE TO THE DOWNSIDE.

ANY MOVE, BE CAUTIOUS WITH THE CONFLUENCES OF RESISTANCES AND AN UNTOUCHED WEEKLY VIRGIN TO THE TOPSIDE.