BANKNIFTY--Which Breaks Demand or ATH ??
Updated
Today's observations::
Price rapidly falls from the 46300 levels.
Price may again test the ATH, so don't go for short immediately.
based on the opening will again look for buy or short.
Key level to watch is previous ATH, that is the level that can push price up or lower.
On bottom side,
Price is again taken the support from demand zone...until demand breaks no Short again...
fake breakdown may also happen at demand zone careful here...
this is a strong area of value and demand zone.. that can't break easily....
will see what happens in the next session.
Price rapidly falls from the 46300 levels.
Price may again test the ATH, so don't go for short immediately.
based on the opening will again look for buy or short.
Key level to watch is previous ATH, that is the level that can push price up or lower.
On bottom side,
Price is again taken the support from demand zone...until demand breaks no Short again...
fake breakdown may also happen at demand zone careful here...
this is a strong area of value and demand zone.. that can't break easily....
will see what happens in the next session.
Note
price opened near demand, don't go on any side...Note
price broken the demand...we don't know, it acts as resistance or it acts as support again....pls wait for more confirmation.Note
wait it will come back to the zone again...don't initiate a short or long.Note
moving in a channel...wait for breakout or break down and retracement.Note
Note
don't go short...wait for the right time...Note
If price cannot able to break upside...if breaks the bottom side...look for sell on retracement.Note
price is completely in a range bound ...we won't get any entries...keep safe in this kind of market...
Note
price is below strong demand...so don't long...keep on short side...bottom demand is weak..it can break easily...so wait for break and retest.
Note
Note
Becareful gyusNote
I will enter long if price breaks this .Keeping the SL below. Risky , will see.Note
price still not breaks the bottom demand..if breaks and retest..enters in short.
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