Support and Resistance
Nifty View As per the levels in the chart:-
If Nifty will not sustain above 11750 then it may test 11670.
If Nifty will sustain above 11750 then it may test 11800.
The fresh up move may start if it will sustain above 11800 in this scenario it may test 11870 but if Nifty will not able to sustain above 11800 then supply presure may push NF to 11750 and 11700 levels.
Thank x
Real-Time a "Price Rotation" on NIFTY with comprehesive study.A previous-Resistance & trendline R. still existed at 11783.
I did not cover here penetration because I teach about it earlier.
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WHAT IS "PRICE ROTATION" and all about it?
Price Rotation is used in technical analysis to describe the movement of a stock's price within a well-defined small area.
It is generally caused due to trader indecisiveness
Price movements are broken upon major news.
The price rotation is the fair market value.
The Price-Rotation or up and down movements that travel from the value area high to value area low and back. Of course, with the sellers being in control and pushing the price down slowly, we do not get to have all the price rotations at the same price level over and over again as it happens in value areas where the price is moving completely sideways due to the perfect balance between supply and demand.
Those type of value areas will offer extremely powerful support and resistanc e areas for future price action . In the case of the shifting value areas, price spends less time at one single price area. However, we will use these value areas to construct a bigger price structure that will give us a huge opportunity to succeed in the trade.
I WILL WRITE ON THIS TOPIC VERY SOON : The difference between true breakouts and false breakouts, how to use price action, volume activity, and different time frames to confirm the breakout, and how to trade them correctly. What is penetration and why we use it?
