WHAT IS SUPPOERT AND RESISTANCE ?

Support and Resistance are the most important Price points on the chart of any security at which the security is expected to.

Now we discuss about Support——

Support is the level at which the price of a security doesn’t fall further as the demand is sufficient enough to hold the price from falling further.

Support will always appear or form below the current market price of a security.
Support can either be in form a single price level or zone.

Now we discuss about Resistance——

Resistance is the level at which the price of a security doesn’t rise further as the supply is sufficient enough to hold the price from rising further.

Resistance will always appear or form above the current market price of a security.
Resistance can either be in form of single price level or a zone.

How to Plot Support Level or Zone?

The following steps are to be followed to correctly plot the support level or zone.

1.Look at the historical price data.
2.Identify extreme lows.
3.Mark all the low touch points.
4.Connect all the touch point.

How to plot Resistance level or zone——

The following steps are to be followed to correctly plot the resistance level or zone.

1.Look at the historical price data.
2.Identify extreme highs.
3.Mark all the high touch points.
4.Connect all the touch points.

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