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Nifty Bank Index

BANKNIFTY--Case1 or Case2 ??

By IIT-Trader
Updated
BANKNIFTY is now at golden zone of fibonacci.
we have 2 possible cases here,
case1::
It may reverse from golden zone.
(or)
case2:: After strong bearishness today given some retracement, to enter short side continuation.
If price consolidates , price fall continue towards bullish gap on bottom side.
Keep safe here, volatility is more in this scenarios.
Note
Before Budget these bullish and bearish moves are common.
If price consolidates between the zones from 47000-44500 levels, after budget price gives rally to topside...
Be careful until Budget.
Note
snapshot
Note
the current situation of Bank nifty is in Bullish correction phase.
Note
No short side
Note
wait for long side...break and retrace then enter long
snapshot
Note
if there is no break above, bottom side liquidity will be finished...safe before long.
snapshot
Note
trendline is pushing up...
snapshot
Note
Exactly opens in the zone of resistance.. There might be some push to the top side... Later it may again fall back... Keep safe before long
Note
Price is exactly in the zone of support.... Keep safe before short from this level
Note
44150 -44200 is a good support... Keep in long side from here
BANKNIFTYbankniftyanalysisbankniftylevelsbankniftytradesetupbankniftytradingbankniftytrendbankniftyviewSupply and DemandSupport and ResistanceTrend Analysis
IIT-Trader
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