Again It's not ready to correct price wise... Already time wise correction is done and high probolity to move upside once exit from the zone.
As mentioned in the chart price is respecting the demand zone
I am expecting time wise correction in between 19200-19540. 19100-19200 is a demand area 19540-19640 is a supply area I may update my trades as I updated in my pervious post.
After a breakout of Supply Zone it was consolidate in the range. Today there was a strong buying from the lower zone of the zone. There is a high probability to to test 46000 level very soon
I am expecting weekly closing above or near 19100. There is a resistance levels @ 19100-19200 but nifty is not showing any weakness near these levels. If this will happen then it will be the strong close on weekly chart. In that case next major reversal levels will be 19550-19650. Kindly check the below link for my current and pervious trades with logic.
I am expecting range brake out very soon. It will be trending once it will brake the range. Yesterday daily candle indicates that 44000-44150 is a strong demand zone. Yesterday's Daily candle was the first strong bullish candle in this range
After a Strong uptrend Nifty is not even ready to test it's first support area. It is treading in a range. I consider this a a price wise correction. Also it's difficult to trade in the range market but as an option seller and buyer I have observed that there is a no theta decay there is a delta decay happing in options strike. Below are some chart for the...
Nifty may brake HH-HL pattern and can see smooth trend on up side till next supply zone.
Supply Zone @ 42000-42200.... Demand Zone @ 41500-41800... Demand Zone @ 41275-40730... Bank Nifty closed @ the Supply Zone but it is having multiple demand zones on the down side. I am not interested to take positional short trade from supply zone but I will take intraday short position once i will get the bearish conformation. Sustain above 42200 I will avoid...
Demand Zone @ 17700-17800 Supply Zone @ 17900-17950 I am expecting sideways market between this zone for a time wise correction for some days. any-side breakout or breakdown will move 400 points.
Bearish price action from Supply Zone........... Levels are mentioned in the chart.
It's better to follow the price instead of to predict the price as an option seller. Currently Nifty @ Reaction Zone. There is a high probability to see strong price action on the any side within a day or two. Bullish price action will take nifty to the next supply zone @ 17800-17900 and Bearish price action will take nifty to the next support @ 17000 and...
Expecting Positive Price Action in Next Week. Will Change my view below 16900
It is trying to take support from demand zone but follow through is missing on the upper side. Also there is Distribution happened on the upper side. There is a high probability to test 16500 zone at the end of this month...
There are Multiple Demand Zone @ 16800-16850 and 16900-170000 Currently Nifty doesn't have a strength to break those Demand Zones. Any Bullish Price Action from the Demand Zone Nifty will test next Supply Zone @ 17400 Bearish view below 17765.
There are two conditions. 1st: Bullish price action from 17750-17830 zone will take price to the next Supply Zones on the upper side. 2nd: Bearish price action from 17750-17830 zone will take price to the next Demand Zones on the down Side.
Supply Zone @ 17385-17460 Demand Zone @ 16900-17095 Condition 1: Time wise correction between 17275-17460... Condition 2: Sustain below 17275 downtrend will continue and test next Demand Zone.
Levels and other details are mentioned in the chart. There is a high probability to get trending market on upper side. I will change my view and position in case of price sustain below 17600. Levels and analysis is for a position view (Option selling).