As we mentioned, price will travel from one demand zone to another demand zone, and a breakout is the only point for bullish sentiments. From the low of 25726, the price touched the demand zone 2 and took support.
This is a critical situation as Nifty is stuck in the middle of the ocean. You should keep in mind that a breakdown of the demand zone can cause bearishness, further targeting the low of wave 2.
If you are the option buyer or bullish on the future contracts, make sure the price sustains above 25930. It’s a crucial zone because the demand zone flips it into a supply zone after the breakdown.
Don’t let your stop-loss become an entry for others.
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Perfect Count! Please analyze bob and alembic too.
Yep, this makes sense with the current structure.
Quite likely that nifty won’t create new highs here…
Bravo! Appreciate your generosity.