Nifty: Higher Probability of Breakout

7 Şub 2023

There is a Supply Zone on Weekly Chart @ 17800-17900 and Supply Zone on Daily chart @ 17850-17900.
There is Demand Zone on Weekly Chart @ 17400-17450 and Demand Zone on Daily Chart @ 16780-17745.

Normally there should be a follow through in price from weekly supply zone but Nifty is taking support from it's daily demand zone.
Also there is a positive RSI Diversion on Daily Chart.

There is a higher probability of breakout.

7 Şub 2023

Not

8 Şub 2023

Not

Strong Price Action from 17800-17900 Supply Zone.
it needs to clear the Supply zone with strong price moment to convert supply zone into demand zone.

8 Şub 2023

İşlem elle kapatılmış

Profit Booked...
Will Take a Long Position again once it will sustain above 17935

8 Şub 2023

Not

Now it's time to short