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johntradingwick
Oct 27, 2021 2:58 AM

VIP industries - Sitting at the confluence zone Long

VIP INDUSTRIESNSE

Description

Category: Reversal trade

Key Highlights:

1. Bullish market structure on HTF
2. Tapped into the demand zone
3. Turning the previous swing level into a support
4. Rebound from 200 MA
5. Creating a confluence zone of swing level + demand zone + 200MA

Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
Comments
ashish700
also formed higher high and higher low into the area of support , looking for 550 level . how it would react . sellers already loosed their connfidence when it surged from support almost 6%
johntradingwick
@ashish700, "Also formed higher high and higher low" - Yes, I have mentioned that. It's called a bullish market structure.
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