Basing : Its accumulation phase where smart money comes in, it acts as a base.
Here price may follow the previous trend or shows reversal
Always take partial position, don't get trap by infusing entire position.
Volume activity remains low and you may see some heavy buying at support.
Psychology : participants are not ready to participate actively, it lacks...
see my last idea where i gave buy call above resistance after that stock move really good
a strong resistance zone and head and shoulder pattern breakout
head and shoulder pattern usually work 70%+ times so with good risk to reward ratio we can trade in lower timeframe like 3min to higher timeframe weekly
Check out daily Nifty and Banknifty Target for Intraday & Prediction for Tomorrow.These Forecast are based on some of the most used Technical Indicators; hence, they are expected to give accurate predictions.
This Index Target, Forecast or Predictions should be used only for reference & educational purposes. The Data or Information provided may or may not be...
Foreward
In this thread, I would try with the best of my knowledge to explain the following questions as easily and briefly as possible.
1. What is a support level?
2. What is a resistance level?
3. What is their importance?
4. When and where to place Buy/Sell orders?
Introduction
Support and resistance levels are a critical part of trend analysis because...
-AS PER CONDITION NIFTY NEVER CLOSED BELOW 14200 AND ITS 100-EMA AND IT BOUNCED BACK
-AFTER A BREAK IN THE LOWER HIGH AND LOWER FORMATION WAS SEEN IN CLOSING BASIS LONG POSITIONS WERE AVAILABLE
-EXPLAIN IT CLEARLY ABOVE 14700 WE SHALL SEE SHORT COVERING
-EXECUTED LONGS WHEN INDEX FUTURES CLOSED ABOVE 14640
-NOW WE HAVE ALMOST AGAIN REACHED THE TOP OF THE...
SRTRANSFIN is near 800 level, which is a strong resistance after march crash, however it has been tested multiple times, but this time it has also crossed 200DMA and trading near 800 level. it looks it could retest 750 levels before giving breakout. once it breaks 800 level. 800-960 levels openup for upside. RSI is at 68 on daily scale and RSI is at 56 on weekly...
Here I used EMA , KAMA & RSI.
at a 1450 level, a very strong resistance is there.
We can see the RSI & chart pattern is complementing each other very well.
it looks like the bullish trend is very strong so it can take some time to reverse.
