Bank Nifty: Weekly Major Demand ZoneBank Nifty major demand zone @ 17500-18200. This is major support on the Weekly and Monthly chart. Let's see BNF will hold this support or not if it will fail to hold this support and manage to sustain below this zone then we can see the BNF @ 15700-16300 and 13300-14000.
Demand Zone
NIFTY: Major Demand ZoneI believe that sometimes supply and demand will not work in the news base market. I don't know where and when the market will make bottom but As per my limited knowledge, there are multiple supports near the 6300-7000 zone on weekly as well as a monthly chart. According to this analysys, I don't think in the worst case the market will easily sustain below this zone.
DJI trading very near to its major demand zonesDJI trading very near to its major demand zones on both weekly and monthly charts. Yesterday DJI closed in its major demand zone @ 18800-19300 on the Monthly chart. Next week if it will sustain below this zone then it may test its minor demand zone @ 18000-18500 and in the worst case, it may test its major demand zone @ 17000-17500. Due to the volatility, these zones levels may extend up to + or - 500 points.
Nifty: Closed below it's Minor Demand ZoneToday Nifty tried to sustain above its minor supply zone @ 9350-9450 but it failed to sustain and in the last hour sell-off it was closed below its next demand zone @ 9100. Now, both levels are resistant for Nifty.
I took a short trade when I got the double confirmation when Nifty rejected the 9350-9450 zone 2nd time.
I carried this trade because today’s below 9100 was not a good closing. Tomorrow I should get a follow throw on the downside.
Demand Zones
8750-8850
8500
Supply Zones
9100-9130
9350-9450
GBPUSD: LONG TRADE SETUP (150 PIPS PROFIT )Few weeks of bearish trends and retracement, bullish momentum is finally building strongly on GBPUSD as price is approaching 1.30 , Probably before the week runs out buyers are able to take price towards 1.31 zone.
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Goodluck !
BPCL shortShort bpcl from 497-498
with sl 506
target 480-475
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