Identifying Support and Resistance Levels on Weekly Charts
Praveen Dubey (SEBI Registered RA)
SP RESEARCHVIA PVT. LTD. (INH000015808)
Focusing on Higher Timeframes
Intraday price action is filled with noise that can trigger false trading signals. Weekly charts filter out this noise and highlight critical institutional demand and supply zones. The swing trading team at SP RESEARCHVIA PVT. LTD. explains how to map weekly ranges.
Why are weekly support levels more reliable than daily ones?
Weekly levels represent key price zones where institutional players have actively participated over weeks, making them harder to break without significant catalysts.
Drawing Valid Key Levels
Do not draw lines at every peak and trough. Focus on areas where price has reversed at least twice, and look for confluence with major moving averages or volume profiles.
Written by Praveen Dubey
Chief Research Analyst | SEBI Reg: INH000015808
Statutory Warning & Risk Disclaimer: Investment in securities market is subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Content provided on this blog is for informational and educational purposes only.