This is the higher time frame view showing a strong demand zone around 770 – 790, where price has reacted multiple times in the past.
Key Observations:
• Price is currently trading near a falling channel pattern
• Testing an important demand/support zone
• Compression near support hints at a possible volatility expansion ahead
Important Levels:
• Support Zone: 770 – 790
• Pattern Support: 774 – 794
• Invalidation Level: Below 740 (strong bearish continuation possible)
Upside Potential:
• First Target: 870
• Next Target: 912
Bearish Scenario:
If the price breaks and sustains below 740, we may see a sharp downside move towards 540 levels.
Thank You ....
Key Observations:
• Price is currently trading near a falling channel pattern
• Testing an important demand/support zone
• Compression near support hints at a possible volatility expansion ahead
Important Levels:
• Support Zone: 770 – 790
• Pattern Support: 774 – 794
• Invalidation Level: Below 740 (strong bearish continuation possible)
Upside Potential:
• First Target: 870
• Next Target: 912
Bearish Scenario:
If the price breaks and sustains below 740, we may see a sharp downside move towards 540 levels.
Thank You ....
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.