BANKNIFTY--Will Right shoulder formed to fill Bullish Gap??
Updated
Observations::
previous resistance zone @45300-45350,is again an hurdle to move the price upside,
the demand zone @45450 again resisting the price to go up.
we don't get any sell opportunity today...price wont breaks the 45000 level.
now price is near to its trendline in smaller time frames..
if that breaks and retest will enter on short side by keeping the stop loss above 45300-45350 zone, for targets of bullish gap left below.
Previous strong buy ness from 45000 level becomes weak, price is slowly moving to test the demand acts as supply one more time.
will see tomorrow if price breaks the trendline, and gives retest will enter on short side..
previous resistance zone @45300-45350,is again an hurdle to move the price upside,
the demand zone @45450 again resisting the price to go up.
we don't get any sell opportunity today...price wont breaks the 45000 level.
now price is near to its trendline in smaller time frames..
if that breaks and retest will enter on short side by keeping the stop loss above 45300-45350 zone, for targets of bullish gap left below.
Previous strong buy ness from 45000 level becomes weak, price is slowly moving to test the demand acts as supply one more time.
will see tomorrow if price breaks the trendline, and gives retest will enter on short side..
Note
the demand zone @45200 has to fail...and retest.Note
broken the trendline...waiting for entry..Note
Note
Note
Exit few quantity....remaining until gap finished...Note
Note
reason is we are in hidden demand zone.Note
price starts consolidation....more advantage..Note
If they want to eliminate sell side liquidity....they will do this..Note
still momentum is not over....Note
price is ranging...Note
Still in the range...Note
Note
now again price is our POI for short....wait for confirmationNote
price broken our POI area strongly...failed to move upside...Note
Finally Head and shoulders pattern Done...
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