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marzil

NIFTY 50 Potential Bounce Zone?

Long
Nifty 50 Index (NSE:NIFTY)  
marzil Updated   
NSE:NIFTY   Nifty 50 Index
Trend Analysis Technical Indicators NIFTY nifty50 Indices Demand Zone edgetoedge Divergence
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trendanalysis indicator nifty nifty50 indices demandzone edgetoedge divergence
NIFTY50 looks primed for a bounce at blue demand orderblock.

Analysis -

  • Price about to enter demand zone which has already been tested twice and bounced.

  • Ichimoku edge to edge target is about to be fulfilled.

  • Bullish divergence on weekly with several momentum oscillators, will post RSI div down in the updates.

  • Oscillators are about to be bottomed out.
Comment:
Bullish weekly divergence on RSI
> Invalidates if we close below 9980

snapshot
Comment:
Forgot to mention, will open a long at either demand zone or cloud edge, whichever comes first. Seeing multiple frontruns this week, won't be surprised if market inclines before we reach demand.
Trade active:
Entered long
Comment:
Moved SL to entry
Comment:
Looks bearish, looking for a strong bounce next week else stop is inevitable.
Trade closed: target reached:
Been busy past few days, therefore not updating calls.
Initial long entry held well, exited at bearish supply zone at 10,900.
This is what I looked at
snapshot
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