Supply and Demand
ACC @ Previous support turned ResistanceACC has traded into the weekly resistance which was previously support.
As the price moved to resistance, we can see on weekly long wicks to the downside .
Now on the daily TF we have bearish engulfing. Enter short and target around 1125 as first target.
RELIANCE divergence in Monthly TFThere is a divergence in monthly TF. Nothing can be predicted for RELIANCE. Anything can happen. But as per the charts, there is a divergence which is not good for new investments as old/big investors will offload their shares. Even the candle formation is outside the upper bollinger band which suggest the price may retrace down.
ABB can we see Long from HereIf we study volume and Moving avg, looks like we can see again a bullish move, Buy around 800 levels Target 840, 900 & 971
OBSERVE SHORT CESC WITH PRICE ACTION SHORT NSE:CESC at 610
Price is near demand zone on higher time frame.
Stock is forming LH-LL . SL is bigger here(627). Just observe price action.
Expecting a target of 575/557
How i captured 112 pt move in asian paintsPerfect bounce from the demand zone. Added when everyone was onto this stock for the last move upward and then booked profits when the momentum slowed down and broke the uptrend. A move straight from the textbook
Tell me who dont now Asian Paints All we need to look around our surrounding to find multibaggers nothing else
And some technical knowledge that's it
UNDERSTANDING FAKEOUTSWe also reversed from 50 EMA. Now the price will just do PING PONG.
This learning will help us to identify future fake outs.
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Ashok Leyland Longterm analysisEven though Ashok Leyland doesn't fit our investing framework, posting this in case it will be useful for already invested investors
BANK NIFTY weekly analysisBank nifty is facing strong resistance @23400-23700 level
Supply zone is @ 22275-22600
Demand zone @ 20950-21180
Demand zone @ 20000-20360
Strong support @ 18560-19050
Stuck Between "A Rock & A Hard Place"Bharat Forge is a good example of several stocks in the Nifty 500 right now. The stock is stuck between former support that's been intact for nearly 6 years (355) and former resistance that's been intact for nearly 15 years (200).
As a market participant, it's difficult to bet on this type of stock longer-term in either direction as long as prices are between these two levels.
As a fresh short or someone liquidating longs, you don't want to be placing orders near 200 because the market's telling you there's still underlying demand there.
As a fresh long or someone liquidating shorts, you don't want to be placing orders near 355 because the market's telling you there's still overhead supply there.
As a result, you have this range develop that neither longs nor shorts want to bet against breaking. Why would anyone want to be the one to force it in either direction when the market punishes you for doing so?
People who are trading the range are being rewarded with gains, while those betting against it continuing are punished with losses.
And thus the range continues.
And it will continue until a large buyer or seller, an institution, puts enough supply or demand on the market to break the range. Once that happens, the positive feedback loop that's been in place will be broken and a new behavioral trend will manifest itself in the market.
So what's the best course of action for someone with a timeframe of several weeks to several months, or longer?
Wait. Let the institutions who set the trends show their hands and then we can position ourselves to ride along to profits with them.
In the meantime, trade the range if you'd like, but until prices break decisively in either direction and begin trending, there's no reason for us to be betting aggressively.
This is how we approach rangebound stocks for our timeframe, which looks out several weeks to months (or longer).
Bank Nifty Tested It's Major Supply Zone...
Today Bank Nifty tested its Short term Major Supply zone @ 21350-21750. This same Supply Zone is there on a daily and weekly chart.
On the downside, there is a minor support @ 20500 and demand zone @ 19700-19800.
I will plan my trade if Bank Nifty will sustain above 21350.
Nifty closed in the Supply Zone.Which will be the next Zone ?
Nifty closed in the supply zone of 9490-9580. On the downside demand zone @ 9230-9250.
Today as I have mentioned in the telgram group that I am not expecting nifty closing below 9490. The reason is: 9490-9580 is a supply zone on a daily chart and 9490-9735 is a supply zone on a weekly chart. So 9490 is a very crucial level in a higher time frame. I am expecting a weekly candle close in 9490-9735.
If Nifty will manage to sustain above 9500 then it may face 1st resistance @ 9580. Once It will sustain above this level than on the hourly and daily chart next major supply zone @ 9990-10090 but it will face one more resistance @ 9735 range which is an upper level of supply zone on the weekly chart.
From the last few days I was in favor of taking a position in option writing instead of FUT because Nifty strength was missing and I was not able to find decent technical stop loss (not logical stop loss). But today I have seen good strength in Nifty so I may trade in FUT instead of Option writing.
Bank Nifty: Intraday Demand and Supply Zones
Today Bank Nifty closed above its minor resistance level @ 20500.
On the upside there is the resistance of the trending channel and supply zone @ 21500-21800.
On the downside there is minor support @ 20500.
tcs simple learning setup using support resistance educational purpose share
one can observe and learn
