Zee Ltd had a previous support at 410 levels, we all know when it broke the stock saw a big fall. But how is the useful to us now ?
Is it useful if we switch to analysis on lower time frame. More details in the below chart on lower time frame.
Zee Ltd today entered into the range of the break down candle which had a range of 412 - 390.
Today Zee entered that range with Day High at 399.85 and gave a sell signal too intraday.
Stock is closing down at 350 levels. A move of 50 points.
Summary : - Demand & Supply concepts have their importance on all time frames and can be used to our advantage in short term trading when views get aligned with longer time frame references