BANKNIFTY--Consolidation or Bullish ??
Updated
BANKNIFTY is rejected from the main channel and fall happens...
we have detected a break below the secondary channel as well.
If tomorrow price opens gap down or consolidation happens below 47400-47000 levels then liquidity will be clear on bottom side @47000 levels.
If tomorrow again opens up and we have a chance of continuation to upside for the retest of secondary channel and may fall back again.
Price is slowly creating a down ward channel, keep safe from these levels.
Rarely, If consolidation happens above the secondary channel then it will again test ATH levels..
we have detected a break below the secondary channel as well.
If tomorrow price opens gap down or consolidation happens below 47400-47000 levels then liquidity will be clear on bottom side @47000 levels.
If tomorrow again opens up and we have a chance of continuation to upside for the retest of secondary channel and may fall back again.
Price is slowly creating a down ward channel, keep safe from these levels.
Rarely, If consolidation happens above the secondary channel then it will again test ATH levels..
Note
If consolidation happens above channel will have a possibility of test ATH.Note
Drop Base Drop is observed...price exactly opens near to the base.. Base may push upside or downside... Keep safe here...
Note
If price is unable to push upside from this zone high, then it will goes down...wait until base push down or upside...
Note
if price again comes back to the day high and retrace enter long...by keeping SL at Base High.Note
Keep in long side...it may test base low again....
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