Shree
Sideways Channel - Demand Zone reachedShree Cement has been trading in a sideways channel for a long time now and has reached the demand zone.
I am curious to see the results after EMA 9,21 confirmation or after taking a partial position here.
RSI has reached 30 levels and MACD Divergence seems decreasing as well. A strong bullish candle can increase conviction in the swing.
Only for learning purposes.
Shree Cement Trade ReasonBreak out with Good volume - Confidence
Next candle with big WICK with heavy volume - Shows the Buying is still absorbing selling
Next two candles Profit booking Because there are big candles but no Volume - Sellers are not Aggressive
So that's the reason for the entry now also is a good one
shreecemets weekly levelsMagic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS
ORANGE LINES ARE SELL LEVELS
IF OPENING 15MIN CANDLE TOUCH BLUE LINE GO FOR LONG/ IF OPEING 15 MIN CANDLE TOUCH ORANGE LING GO FOR SHORT.
There are 10 different pattern for getting entry in market with this line if anyone interested please command below ...