Using the Volume Profile Indicator to Find Support and Resistance in TVS Motor Stock
The volume profile indicator is a technical analysis tool that can be used to identify support and resistance levels. In this article, we will use the volume profile indicator to analyze the TVS Motor stock on the daily chart. We will identify the high volume nodes on the volume profile and consider these price levels as potential support and resistance levels. We will also provide some additional tips for using the volume profile indicator to find support and resistance.
Here are the steps on how to use the volume profile indicator to find support and resistance:
These price levels are potential support and resistance levels for TVS Motor.
The volume profile indicator is a technical analysis tool that can be used to identify support and resistance levels. In this article, we will use the volume profile indicator to analyze the TVS Motor stock on the daily chart. We will identify the high volume nodes on the volume profile and consider these price levels as potential support and resistance levels. We will also provide some additional tips for using the volume profile indicator to find support and resistance.
Here are the steps on how to use the volume profile indicator to find support and resistance:
- Add the volume profile indicator to your chart. The volume profile indicator will plot a histogram on the chart, with each bar representing the volume traded at a specific price level.
- Identify the high volume nodes on the volume profile. These are the price levels where the most volume was traded.
- Consider these high volume nodes as potential support and resistance levels.
- Here is an analysis of the TVS Motor stock on the daily chart using the volume profile indicator:
These price levels are potential support and resistance levels for TVS Motor.