Supply and Demand is one of the core strategies used in trading. It focusses on the ancient laws of supply and demand and how price moves in a free-flowing market. The foundation of this strategy is that the amount of an instrument that is available and the desire of buyers for it, drive the price. It identifies zones on the chart where demand overwhelms supply (the demand zone), driving the price up or where supply overwhelms demand (the supply zone), driving the price down. Most supply and demand traders wait for the price to enter these zones, where major activities of buying or selling have taken place, before entering a long or short position themselves.
It makes sense to buy at a demand zone and to sell at a supply zone, but keep in mind that fresh zones are more effective than retested ones. They can be used as entry zones for a continuing trend or as reversal zones for a changing trend. Trades can be made aggressively or conservatively, each with their own rules of entry and exit. TradingView has a smart drawing tool that allows users to visually identify these levels on a chart.
The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100.
Disclaimer : All ideas ...
Price action is consolidating within narrow range. Bullish above the resistance 10840 - 10860 for the targets 10920, 10980 and 11120. Bearish below 10760 for the targets 10680, 10620 and 10560.
Moving In Channel.
Buy In Demand Zone As Per Comfort.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
RELINFRA GOOD SUPPORT LEVEL 280-275
BOUNCE BACK POSSIBLE
IF NOT HOLD THEN MAY NEW 52 WEEK LOW
BUT MAXM POSSIBLE TO COMPLETE RIGHT LEG..
CHECK EVERYDAY FOR INTRA PLAYERS..
Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Entry 431
SL 408(closing)
Target 492
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my ...
Prices have nicely formed the Rectangle pattern and it is trading above the Upper boundary. It has already shaked the trader by coming back to the pattern after breakout so it seems good cances now for the target. Those who want to trade this simple pattern can initiate the trade
Entry 3020
SL 2900(closing)
Target 3300
Risk/Reward Ratio 2.50
Disclaimer : All ...
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