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 price action has nicely formed Rectangle Pattern it looks that demand is emerging at this level so one can buy the stock with SL of recent low. In case of close below the lower boundaries one should immediately close the trade even aggressive traders can initiate short trade but that does not seems to have good chances of target as there is support nearby. ...
Indian Hotels has overlapping support zones across multiple time frames as shown.
Buy, Stop Loss and Target levels are indicated in the charts
Buy @ 122, Stop Loss @ 115 and Target @ 143.
Keep trailing stop loss to cover your profits.
Risk: Medium
Always trade with the trend.
The stock has developed Bullish Wolfe Wave which could be traded. Although target price of the pattern is 91 but one can easily expect 84 and review the trade at that level. RSI divergence in oversold area and its value confirming the buy decision.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
We have seen very good Down trend in the formation of LL/LH from last november but now we can see buyers are coming (as per momentum) and trying to control the market also we have got our first HH so now we need a buy signal only.
Price action have to sustain 10660 -10680 level to move towards 10720, 10840 and 10920. Breaking the support will make the price to fall towards 10620, 10540 and 10420.
Nifty Updated trade Idea
Nifty Entered in Demand Zone and also lower level of Trading channel
Now expecting some reversal otherwise expecting more fall ..!!
Only For Study Purpose. Do Your Own Analysis..!!
https://in.tradingview.com/chart/NIFTY/tFq4XwED-Nifty-Hourly/
The stock is showing sign of TREND REVERSAL. It has completed the double bottom and 1-2-3 Reversal pattern. One can trade the stock for a target of 146.50. Once can also consider investing the stock for medium term perspective. RSI above 50 is confirming the decision.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for ...
