Here's an account of a strong price action that was seen today in Axis Bank today. Below is the 5-minute chart of the same scrip. Price opened with a huge bearish candle. The open candle also had up wick which indicated weak bulls. Within first 15 minute price had breached yesterday's confluence area marked in the chart below by a horizontal box.
A trader had to be swift in his entry actions. Price kept
inching lower swiftly. I formed a plan to enter short at a small correction
which I have marked in the chart with eyes on target area near 's3'. But I
could not pull the trigger. I have hesitancy in entering such trades. I need to
work on it. Price reached an earlier support zone near 663. It didn't reach
's3' pivot.