After breaking the parallel channel, the price entered the value area.
Price has started a seller initiative by going out of the price zone.
Buyers responded more to sellers’ initiatives with an excess.
At this juncture, the price has entered the value area.
The lower band indicates the demand pressure.
If the price does not stay above the lower band at 17250, it could move downwards to the lower levels – 16628-16410, because the price didn’t break the 78.6% level.
Otherwise, the price will surge towards 17369- 17487-17612.
Note that if the price does not break the control line, it can not reach the upper band.
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Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Awesome work, thanks for sharing!
Thank you for your kind words.
Fundamental breakdowns like this are great!
I think nifty will fall to 12000 in before march end.
perfect bottom fisher. gratz.
very impressive
yes possible movement. The breakout of the price from the minor channel should transform the price in something else. So we can see some volatile in the indexes finally.
Great charting style, thank you!
Good outlook
Absolutely so!
Thanks!