Abbotindia standing in the support zone if we see a pullback from the support zone then we are interested to take on trade from here.
why support zone?
we know that previous support work as support according to price action theory and high volume area also act as support when price come back to that zone and we add one more thing called average price, average...
"ABBOTINDIA " is currently standing at the support zone if we pull back from here, we definitely interested in a long trade.
why support zone,
when we get conjunction of high volume profile, previous support, and resistance, and the average price of some important event.
Setup = Conjuction of (volume profile + Privioue support + Avarage price)
Nifty stands at a level of resistance with conjunction of price action and average price
price action = previous resistance is the next resistance
Average price = anchored VWAP of second last top.
here can go long with proper stop-loss
