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Resistances

Nifty Today: “A Confident Close” - 09 Feb’22 
Nifty View: The recent bounce back extends further, with the benchmark Nifty index gaining more than 200 points in today's trading session. The intraday charts are improving as the index now deals with the immediate resistance zone of 17,450-17,550. Support from the Banking and Auto sector continues. From now on, the most critical aspect for the rest of this week will be whether it will be able to break out above 17,550 and move back into a short-term uptrend or not. A failure to do so, will bring back selling pressure in the overall market next week. We should not forget that based on the daily timeframe, the underlying trend is still weak, and many sectoral indices are also in a downtrend. So one should not be aggressively bullish in this market condition. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
A Tutorial on Support and Resistance - Part 1.A Tutorial on Support and Resistance - Part 1. What are Support and Resistance ? Support - Is the price level from where people expect maximum buying/demand to come. 1. Price is falling and it is expected to reverse and move up from Support. 2. Support level is always below current price level. 3. Is used to create buying positions or book profits in shorts. Resistance - Is the price level from where people expect maximum selling/supply to come. 1. Price is rising and it is expected to reverse and move down from resistance. 2. Resistance level is always above current price level. 3. Is used to book profits in long positions or create shorts. Other parts to be followed - Part 2 - Why Support and Resistances are formed ? or Why they work ? Part 3 - How to find/draw Support and Resistance ? part 4 - How to trade using Support and Resistance ?
NSE:EDELWEISSEducation
by NaveenGr
SHRIRAM TRANSPORT- All time high 1625, wait for break to buy.SHRIRAM TRANSPORT- All time high is 1625, wait for break above it and then either stall above it or weak pullback to buy. 1625 is a major resistance, supply is expected from this level. Sell near resistance and buy near support. This 1550 zone should be used to book profit, not to go long or short. By buying here one may win this time but buying below resistance is a definite loosing strategy, one will lose over many trades.
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by NaveenGr