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Support and Resistance

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.
NSE:NIFTYEducation
by Swapilchoksi
Bank Nifty: Trading Plan and Demand and Supply Zone. Bank Nifty trading in the trend line channel. On the upper side major supply zone @ 21500-21800 and downside short turm major demand zone @ 19000-19200. Also, there is trendline support near the demand zone. In any case, if Bank Nifty will break and sustain below 19000 then minimum 1000 points downside range will open. The yellow zone is an OTM option selling zone for me. I will avoid taking a trade-in FUT in this yellow zone.
NSE:BANKNIFTYEducation
by Swapilchoksi