Recent it create double bottom with reversal candle at major support area as well As RSI below 30..
Above 1185 bullish for 1195,1205,1230
Below 1165 bearish for 1155,1145,1130
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Beml levels find based on price action and divergence as it created 3 bottom with good bullish divergence wit support of trendline and bullish candles
Above 707 Bullish for 714,725,750
Below 685 Bearish for 678,666,640
Critical Zone -685-707
It closed near Fib level and strong bullish candle at BB lower channel with support of trendline , with stoch below 30.
Break out of Fib level with stoch trendline expected Bullish ,breakout the major support expected bearish
Above 1815 Bullish for 1825, 1845,1900
Below 1785 Bearish for 1775,1755,1710
As per reading of current OI data after market hours on 25/02/2020 and nifty at its support level of near 11800 on the chart. It is expected that the market may close near 12000 level on 27/02/2020.
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INSIDE BAR opportunity
Long at 226.15
Short at 221.50
SL mentioned, target open. Seems like it is going toward the long side as it is at a good demand zone.
However, more days of NIFTY shedding down will likely result in breaking this support as well.
We can see that the stock has taken support at the critical level, below this the stock may fall badly & resume it’s trend down. The RSI is holding on to the 40 levels, we may expect the hammer to work and prices should move ahead from this level. The probable target zones in short term may be around 450 & 500 levels while closing below 285 will be not good.