Wednesday, March 9, 2016

How BPCL reacted to Demand Area

Had posted BPCL chart on 29 Feb. This is a 120 min chart. BPCL was trading in oversold territory. However undertone of the market was bearish. Found this beautiful demand zone.
Look how price reacted to this demand area to give an upward move of more than 60 points.

Demand and Supply areas are places from where markets are expected to turn around.

Given below is link chart of posted on 29 Feb.

Find below earlier chart posted on 29 Feb

This is how chart look like today. Notice the areas market by small brown arrows. I am sure you would have noticed how precisely price reacts to the area of demand.

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