IBULHSGFIN, Role reversal of support & resistance (Study)

18 Tem 2021

IBULHSGFIN has zone highlighted in yellow (251-258) which acted both as support & resistance during last 2 years.
This is beauty of Price Action where role reversal happens as price moves around these zones.
One should focus on identifying support & resistance zones which can come in many forms.
1. Horizontal Lines
2. Trend Lines
3. Fibonacci Levels
4. EMA / SMA
5. Gaps
6. Pivot Points

Correct understanding of SR levels pave a way for successful Price Action analyst.
Also highlighted in this chart is Ascending Trinagle formed by IBULHSGFIN , breakout from the level and then pullback to neck line.

Hope this article help in your learning.

Thanks
Piyush Gupta
Learn & Earn