BANKNIFTY--Retracement or Fall ??
Updated
Price broken the strong demand zone by opening gapdown,
and starts consolidation immediately...at the end it tested the demand again.
price exactly closed by testing the demand zone, if price wants to fall continuously, tomorrow again it opens down and fall to below levels.
if price wants to give some retracement, it will again test the previous ATH level...
where previously strong fall happens....
If tomorrow price opens below levels, will look for long in this place...
previously multiple times price got rejected from this level.
may acts as support....keep track this levels....
Today we will not get any entries on any side...it is in consolidation range, till the end.
will see in the next session what happens.
and starts consolidation immediately...at the end it tested the demand again.
price exactly closed by testing the demand zone, if price wants to fall continuously, tomorrow again it opens down and fall to below levels.
if price wants to give some retracement, it will again test the previous ATH level...
where previously strong fall happens....
If tomorrow price opens below levels, will look for long in this place...
previously multiple times price got rejected from this level.
may acts as support....keep track this levels....
Today we will not get any entries on any side...it is in consolidation range, till the end.
will see in the next session what happens.
Comment
Price opened gap up....dont be on short side...keep looking for long entry...Comment
If price eliminates all the buyers once again...then it will go up ...price will give us retracement.Comment
Enter long...if price again breaks.Comment
price breaks and retest also...enter in long trade.Trade active
Comment
Comment
risk ones change stoploss to entry point...Trade closed: target reached
Target 1 doneComment
keep in long....don't exit.Comment
safe ones exit....Trade closed: target reached
2nd target doneComment
price is at trendlineTrade closed manually
Comment
Will see what happens in the next session.
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