Demand Zone And Fibonacci Confirmation.

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According to the demand and supply concept, stocks should be ideally bought when there is demand and when the price is low and should be sold when the supply is more and the prices are costly. In this Chart, Tata Communications has reached the demand zone as we can see from the previous candles in the chart that the stock prices have picked up twice from the same zone. Analyzing the trend on the 1 day chart, the chart shows a sideway trend, so there is a equal chance for it to go in either direction. But Coming to the Fibonacci Retracement we can see that the stock has closed above the Fibonacci levels of 1376, hence indicating a buy for this stock. By and large, this stock is in the demand zone with a Fibonacci confirmation for buying, hence this stock can be bought at the current market price with a stop loss of 1350. The targets for this stock can be also kept based on Fibonacci levels which are 1440-1475-1500-1540, for swing and short term respectively. My motto for trading is buy cheap and sell high, hence bringing you Tata Communications with a beautiful setup for swing trading and short term. Please like, comment and share if you liked my analysis. Happy Trading everyone!
注释
I have analyzed the trend on the 1 day chart, and analyzed the demand zone and Fibonacci on the 1 hour chart. So don't get confused with the time frame. Happy Trading everyone.
交易结束:到达止损
The stop loss has been breached in this trade. Kindly exit on the given sl. One has to bear losses but how much loss depends on the appetite of a individual. Always exit on the given stop loss or target so that you do not break your money. #Happy Trading !
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