WAIT FOR BOUNCE TO SELL..THE BOUNCING PRICE...CATCH THE LONGER MAIN WAVE.....LEAVE THE SMALLER WAVE... LEVELS IN ZONES...PREVIOUS BOUNCING LEVELS.....TO .ENTER ...TRADES...
ITC has tested 310 Levels several times and it has acted as a strong supply zone. The price then fall down and it is nearing the demand zone again. I expect the price this time to break the resistance level 310 and we can set the target price @320. Stop loss @ 260.
The blue area indicates the weekly demand and supply zone whereas the green area indicates the daily demand and supply zone. As we can see the prices went up with less volume but when it came down, the volume increased. So there is a shot bias.
All idea is depended on Wave structure.
An expanding wedge is a part of a flat in this case and it is completed or about to be complete.
But this can be a or it is a start of the next impulse up which will be the C wave of the Flat.
First target 10700 if wont sustain it back to test 10200 to 10100 levels
if break 10700 level then very fast reach at 11200 and again back to pavilion 10000 and more downside possible if reject from 11200
Rejected from DSZ, with shooting star
Once below below 1350, rejection from WSZ will be confirmed.
Trade details on chart,
Disclaimer: I am not responsible for your financial losses, consult you financial adviser before taking positions