Where would free fall arrested: PRZ

22 Şub 2018

Banknifty has fallen almost vertically 10.4% in last 16 bars, so natural question is where would this free fall got arrested. We can try to find the answer in the light of Action/Reaction method. There is a beautiful center-line(Multi-Pivot Line) with 5 touches so it could be considered reliable. AR set based upon it is suggesting that we are now close to the zone where price may reverse the current down trend. Some other studies are also confirming the same which I would mention either in comments or in other post. Let's see how market respond to this PRZ.