We are at important price point as we closed in supply zone.
Important event in this week will be FED rate decision. I am not suggesting these moves considering FED decision. The levels are derived form demand supply zone and channel analysis.
As we are back in original down trend channel after making low of 7916, action in near future is very important. We can see that many support resistance lines are near CMP hence trading in such scenario is difficult as in absence strong price move we can get trapped in sideways move. To tackle such junctions, one way is to trade on lower time frames as entry singles, stops and targets will be small.
