17 April 2020: Hanging man candlestick formation.
20 April 2020: Bearish engulfing Candlestick formation.
21 April 2020: Gap down opening - signifies strong sellers
Probable support @ 8500 & 9100 has strong resistance (Refer option chain)
Fibonacci Retracement : A:B:C
Note: There will be some retracement but the overall trend looks negative for short term.
SUN TV, today test the demand zone and again bounce back from there, with a bullish hammer candle, it can go up to 500 level again( PREVIOUS SUPPLY ZONE), lets see whats big players are planning to do.
( NOTE- i dont use any indicator in my analysis, just pure price action.)