Nifty: Bullish conformation above 18200

There is a wide range of supply zone @ 17950-18320.
To get the bullish strength Nifty need to show strong price action above 181250 to 18200 zone then only I can consider that 17950-18320 as a demand zone. Below 18200 I will consider 17950-18320 as a supply zone.
i am not a intraday trader so this is my positional view for monthly exp.

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125 min close below 18060 will conform the pattern .

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Focusing on 18025 to 18130 zone which is a demand zone on daily chart

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Profit booked in short position
Made a short position @ 18100 PE

Trade closed manually

Not convinced with move...Booked Long position...and waiting for the right time to short again

Trade active

Seller are strong in 18150 to 18200 supply zone...
Short covering absent in 18100 CE
Prefer to take short position from supply zone...Once this supply zone will convert into demand zone I will change my position and view.

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Focusing on the range...I think Nifty is getting ready to move either side...Wherever it move from the range it should give trending move now...

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Strong Buying absent in 18150-18210 Supply Zone.
Also Strength missing in this gap up move on 75 min time frame.

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Beautiful price action from Supply Zone. Even today's high is @ 18200.75.
Now Nifty is entering in Demand Zone...Lets see...How price will react in the demand zone.
Note:18030 to 18125 and 18150 to 18200 zones are on the daily chart.
Still there is zone on weekly chart @ 17950 to 18300. This time I am considering supply demand zones on daily chart also because weekly chart zone is to wide and nifty monument is very narrow. (In normal case I dont take decision on the basis of daily chart supply-demand zones)

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May be tomorrow will be trending day...High probability to see either 18300 or 17950

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Trading near Demand Zone's (18027-18125) Lower Level. If it will brake the demand zone with strong candle ... Next Demand zone @ 17935 to 17900 and 17850 to 17865.
Lets See....

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Last Update:-
As a positional option seller...and student of Supply Demand ... Shorted 18300 CE 2nd Feb exp @ 123 currently trading near 51...
As i mentioned yesterday almost all targets done.
I wont take a risk to change my strike because nifty is trading near multiple demand zones.
In any case if it will brake 17900 with big bearish candle then I may change my strike and take aggressive short position.
Thank you...

svapnilchoksi

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svapnilchoksi

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