Short

BANKNIFTY Prediction for 12th December(Monday)

Updated

I already mentioned important points on chart.

If market opens GAP DOWN / FLAT my view will be BEARISH.
You can sell once the price again reaches supply zone.

If the price rejects from supply zone, expecting market to create new swing low.

If the price opens GAPUP/ starts trading above previous Day's high, You should ignore this analysis.

NOTE:
This Idea is according to my understanding of market especially BankNifty.
And do your own analysis, take positions according to your Risk Appetite.

HAPPY TRADING....

Note

Need to hold our nerve until we get our setup right.
If the price won't respect our levels, stay away from it.
still have to wait until it invite enough buyers.
NO TRADES till then.

Note

Let the market remove random sellers, then enter @ rejection

Note

Wait for some big bullish candles

Note

Be Patient, Let it remove random sellers @ retest

Note

WAIT

Note

Couldn't take any entry, as I was not convinced and its a bit choppy.

Note

Market didn't move as expected, so took no positions.

Note

DAY's SUMMARY:

Market removed random sellers after neckline breakdown.
Market still trading below Supply Zone.
Unless market sustains above 43800 levels, it's still bearish.

"HOPE YOU GUYS HAD A GOOD TRADING DAY"

OnEchARTed

Related publications

BANKNIFTY Prediction for 12th December(Monday)

by OnEchARTed

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.