BANKNIFTY--Retracement or Reversal ??
Updated
Observations::
After a gap up opening price is reversed immediately....
can we consider this as a buyers exhaustion...
The previous bearish gap is resisting the price to go down...
if this failed we have an immediate support in the form of resistance acts as support...
previous multiple times that price got rejected from the same zone can push the price up...
until these zones failed to acts as support, then only will go for short side...
if todays bearish move is a retracement, then tomorrow we will observe a bullish momentum again..
if it is a bearish sign, resistances failed to acts as support a strong fall is going to observe...
If today's move is strong bearish and again rejects from top will be on bearish side up to...45100 levels.
Yesterday A strong bullish move is initiated to exit all the long positions...
then it will be fall again...
we will see what happens in the live market...
After a gap up opening price is reversed immediately....
can we consider this as a buyers exhaustion...
The previous bearish gap is resisting the price to go down...
if this failed we have an immediate support in the form of resistance acts as support...
previous multiple times that price got rejected from the same zone can push the price up...
until these zones failed to acts as support, then only will go for short side...
if todays bearish move is a retracement, then tomorrow we will observe a bullish momentum again..
if it is a bearish sign, resistances failed to acts as support a strong fall is going to observe...
If today's move is strong bearish and again rejects from top will be on bearish side up to...45100 levels.
Yesterday A strong bullish move is initiated to exit all the long positions...
then it will be fall again...
we will see what happens in the live market...
Comment
Golden zone is also located in the same area...Comment
the volume also more....Comment
Comment
Wit for the price to comes to the levels...if breaks ATH and gives pullback we will also with momentum...
if firstly comes down...will be on bearish...on both sides fake breakout is possible ...
keep safe today..
Comment
Lets wait we have a pivot is below ,lets break and retest..will go down..with small risk.Comment
price is ranging...if price moves up we look for sell at R1...if price comes down..will see again Pivot is rejecting the price or not...then will short..
Comment
It ha to break the trendline and gives us retracement then will go for short...until don't go...Comment
risk ones enter longTrade active
long activeComment
still in trade...will see what happens...exactly reversed from the Sl Point
Trade closed: stop reached
Comment
Stoploss hunt is triggered...keep safe.
Comment
Comment
safe traders exit from long...Comment
option premiums are not increasing...Comment
Trade closed manually
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