INDUS TOWER: Market Structure Shift
In the daily chart of INDUSTOWER, after retracing off a demand zone below 150 in early 2023, we saw a new higher high formation in Oct 2023 which confirms an end to the previous downtrend.
The Volume profile also calls out 165 as a crucial support level and also notice the latest up move has shown massive amount of interest of buyers so levels to watch out:
A possible entry could be at a retracement till 175, keeping strict SL near 160 (below latest HL) and targets will be follow up supply zones near 200 and 220.
This idea is based on the concept of market structure purely, any suggestions welcomed.
Not Financial Advice.
The Volume profile also calls out 165 as a crucial support level and also notice the latest up move has shown massive amount of interest of buyers so levels to watch out:
A possible entry could be at a retracement till 175, keeping strict SL near 160 (below latest HL) and targets will be follow up supply zones near 200 and 220.
This idea is based on the concept of market structure purely, any suggestions welcomed.
Not Financial Advice.
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