DEMAND ZONE ON LONGER TIME FRAME

Today lets have look at DEMAND ZONE on longer timeframe. Basically this formation is more effective on longer timeframes like weekly or monthly or sometime quarterly also.

Let's have look at few charts first. 

STATE BANK OF INDIA WEEKLY CHART

We can see that once prices enter in demand zone (marked in green rectangle) quick bounce happens from that levels. For easy understanding click on image and see yellow arrows. 

TATA STEEL WEEKLY CHART

We can see that once prices enter in demand zone (marked in green rectangle) quick bounce happens from that levels. For easy understanding click on image and see yellow arrows. 

VEDL MONTHLY CHART

We can see that once prices enter in demand zone (marked in green rectangle) quick bounce happens from that levels. For easy understanding click on image and see yellow arrows. 

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Please note these candlesticks may or may not act reversal as there are several factors which affects price movement of underlying asset.

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.