Banknifty may go DOWN
Updated
After making a new high market is in the retracement phase and going down and it broke the structure.
There are order blocks, and imbalances in the form of FVG are lying below and equal lows are also present. so the market will first move to these points before going for any further movement.
As per the standard deviation idea market is between fib level -1 and -1.5 where it is retracing and a good area for taking the short position. And what confirms this idea? Since STDV levels match with our points of interest it seems to be a solid trade.
Note: This is only research work and not financial advice
There are order blocks, and imbalances in the form of FVG are lying below and equal lows are also present. so the market will first move to these points before going for any further movement.
As per the standard deviation idea market is between fib level -1 and -1.5 where it is retracing and a good area for taking the short position. And what confirms this idea? Since STDV levels match with our points of interest it seems to be a solid trade.
Note: This is only research work and not financial advice
Note
Since we are in a HighTime Frame uptrend, keep taking partial.Trade active
Note
T1 Done
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