TraderAdda readers know that I track volume in intraday charts. So here is the one trade based on Volumes and Prices Near support.
See chart below will explain all:-
- Recent low of Nifty is 4675 so it is not breached as today’s low is 4686.85 till posting this article.
- Now at days low in 5 min Nifty Future volume is highest (huge) in recent days.It is 14 lakh. Now this low taken as support and then Nifty given more than 20 points till posting this article.
- Still one can hold with day’s low as SL. As this level if breached may give very good downmove. And if not breached then may give 50+ points.
- But it is not easy to break this as those who bought at this level in huge volume may be Big players.
- This also can be viewed as Demand Supply scenario. As Huge demand is there at these levels.
Update of Chart at 3.09 PM….
As we said in the above update that more than 50 points move is possible..
See given more than 100 points. 1st highest volume given buy trade and 2nd highest volume given sell trade.
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2 comments:
Dear Sam,
very good observation. keep it up .
Thanks Murugappan....You are welcome at TraderAdda.
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Your Comments and Few words helps me in DOING BETTER WORK.
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