Search in ideas for "SUPPORTANDRESISTANCE"
Infy - ConsolidationPrice is inbetween support & resistance. Usually when we see a triangle pattern price consolidation, we expect a break out, some times fail to notice the near by support/resistance.
Support zone is 1400 - 1410. Resistance zone is 1440 - 1450. At what level you have the advantage as a buyer? support zone. At what level you have advantage as a seller? Resistance zone. Can you buy or sell at the support/resistance ? No, after getting the confirmation only we can initiate the trade.
This is the analysis & the trading opportunities will be updated in live market. You can share your trading plan in comment section.
Nifty50 Weekly viewGreen- Origin of Price movement (Lower one),
Orange-Weekly Demand Zone,
Blue- Minor Support zone,
Red- Major Supply Zone (But may not be Authentic as they are formed in shadow of other supply zone)
The orange line can provide a good support and demand as it has broken the previous consolidation
and took price to another ATH. The Price should move up and do-little consolidation before further move