Long

NIFTY 50 Potential Bounce Zone?

Updated

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.

Note

Bullish weekly divergence on RSI
> Invalidates if we close below 9980

snapshot

Note

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

Note

Moved SL to entry

Note

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

Also on:

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