POV : VRAJ : VRAJ IRON AND STEEL LTD
POV : VRAJ : VRAJ IRON AND STEEL LTD
Chart Analysis:
The price level of **240** is acting as a critical **support and resistance** zone, as evident from past behavior.
Similarly, in the 209–212 zone, every time the price reaches this area, it sees buying interest, establishing this level as a strong support.
Last month, the price took support at the lower levels and formed a Higher Low (HL) pattern. However, it failed to sustain above the 240 level on two attempts, showing resistance at this level.
Going forward, a bullish formation was observed, breaking out with a small gap. However, after retesting the support zone, the price attempted to cross the gap again yesterday but failed to close above it.
---
? What to do
Reversal Trade Play:
- Consider entry above 225 with a stop loss below 209 closing Basis
- Set an initial target of 240, and for further targets, re-evaluate only if the price sustains above 240 on a closing basis.
👎 What NOT to do:
- Do not hold positions if the price falls below 209 under any circumstances.
- Do not enter a trade unless the price crosses 225.
- If the price closes below the previous day’s close on the trading day, exit the trade immediately.
For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.
#Disclaimer
#NiVYAMi
Chart Analysis:
The price level of **240** is acting as a critical **support and resistance** zone, as evident from past behavior.
Similarly, in the 209–212 zone, every time the price reaches this area, it sees buying interest, establishing this level as a strong support.
Last month, the price took support at the lower levels and formed a Higher Low (HL) pattern. However, it failed to sustain above the 240 level on two attempts, showing resistance at this level.
Going forward, a bullish formation was observed, breaking out with a small gap. However, after retesting the support zone, the price attempted to cross the gap again yesterday but failed to close above it.
---
? What to do
Reversal Trade Play:
- Consider entry above 225 with a stop loss below 209 closing Basis
- Set an initial target of 240, and for further targets, re-evaluate only if the price sustains above 240 on a closing basis.
👎 What NOT to do:
- Do not hold positions if the price falls below 209 under any circumstances.
- Do not enter a trade unless the price crosses 225.
- If the price closes below the previous day’s close on the trading day, exit the trade immediately.
For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.
#Disclaimer
#NiVYAMi
İşlem aktif
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.