BALKRISIND - Price Action Analysis
Since sept 2021 , 
BALKRISIND has changed the price action and started to making lower lows.
So to find more opportunity, we have to understand and take a look from higher TF.
Weekly TF(Higher timeframe) -
As in weekly TF, a bullish trend started from March 2020 has been stopped somewhere in Sept 2021 and trend has shifted.
In between , A rising wedge has been created and after confined break down of Wedge its clearly followed the down trend.
So question is Where we can buy or sell ? well that answer is in daily time frame.
Daily TF -
So we have already witnessed of Rising wedge Breakdown , and volume has also reformed during the breakdown . Price again creates Lower lows and supply zone has been created at 2194 -2240 (approx. 50 point).
BUY Opportunity :
There is a Demand Zone at 1780 -1720 . if price sustains above this zone and stopped making Lower lows that where you can go with the long with small risk.
SELL Opportunity :
if price again reject from define Supply zone then you can get opportunity at sell side as well.
NOTE : Make sure you follow the price action before you entering in any position.
In Conclusion , My observation still at the down side because there is no clear direction of bullishness in weekly TF , if price comes at demand zone at mention level in the chart, there would be higher chances of Reversal so till now you can take action base on price.
If you have a different opinion, please share your thoughts in the comment section. If you like my ideas, please show some appreciation with a like and follow me for more such trade ideas. Happy and safe trading! :)
BALKRISIND has changed the price action and started to making lower lows.So to find more opportunity, we have to understand and take a look from higher TF.
Weekly TF(Higher timeframe) -
As in weekly TF, a bullish trend started from March 2020 has been stopped somewhere in Sept 2021 and trend has shifted.
In between , A rising wedge has been created and after confined break down of Wedge its clearly followed the down trend.
So question is Where we can buy or sell ? well that answer is in daily time frame.
Daily TF -
So we have already witnessed of Rising wedge Breakdown , and volume has also reformed during the breakdown . Price again creates Lower lows and supply zone has been created at 2194 -2240 (approx. 50 point).
BUY Opportunity :
There is a Demand Zone at 1780 -1720 . if price sustains above this zone and stopped making Lower lows that where you can go with the long with small risk.
SELL Opportunity :
if price again reject from define Supply zone then you can get opportunity at sell side as well.
NOTE : Make sure you follow the price action before you entering in any position.
In Conclusion , My observation still at the down side because there is no clear direction of bullishness in weekly TF , if price comes at demand zone at mention level in the chart, there would be higher chances of Reversal so till now you can take action base on price.
If you have a different opinion, please share your thoughts in the comment section. If you like my ideas, please show some appreciation with a like and follow me for more such trade ideas. Happy and safe trading! :)
Related publications
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.