Stock is in the selling zone Every seller would look to sell at higher prices (fake breakouts + SL hunting) Real-time data may suggest some adjustments accordingly.
Probability on the sell-side is very low. The sector is in a strong uptrend. Some selling can be seen near buy target. Institutions might be active around the zone as a lot of retailers would try to trade the breakout and will be trapped as all the SL orders would be executed. (In this case, SL is nothing but sell orders in the market) which would dump the stock...
Nifty is in a 1-year long upper trend and is not showing any weakness as of now. As long as it is above the trend line consider not looking for any selling opportunities.
Buyers have entered the stock around the breakout area of 900-920. Price action calls for going long till 1065-1075 as sellers have been active around that zone.
Idea uploaded for self-analysis. Not to be taken as a trading opportunity.
Buyer's Holding Gold above (1721) Level but it's headed towards Area of Confluence which might make it go sideways before going anywhere.
This is a view for the short-term time frame. Hypothesis: The stock has given a breakout in the positive direction. Still, to avoid fake breakouts we can wait for the closing to be above our entry-level and initiate the trade. If it's a genuine breakout this can be a very rewarding trade.
Understanding Buyers & Sellers Psychology around critical price points.
If and when S&P drops below 100 EMA - 3400 levels will act as a buying zone. Short trade can playout at the trendline break.
Interesting Pattern in Nifty. The idea is only for observational purposes.