BANKNIFTY--Retest or Fall ??
Updated
Observations::
Price has broken the trendline...strongly
now we have to see it will continue to drop or will retest the trendline...
if we see the chart,
trendline retest if possible test area is 44200 or strong fall area @44350 level.
If we see on bottom side...strong reversal is observed with gap @43700 and is still not at finished.
if price fall continue we can observe this gap be finsihed soon.
if Price is going to test the supply zone @44350 to fall again
If tomorrow price is range between 44000 and 44160 levels and goes up look for sell.@ Supply Zone.
Price has broken the trendline...strongly
now we have to see it will continue to drop or will retest the trendline...
if we see the chart,
trendline retest if possible test area is 44200 or strong fall area @44350 level.
If we see on bottom side...strong reversal is observed with gap @43700 and is still not at finished.
if price fall continue we can observe this gap be finsihed soon.
if Price is going to test the supply zone @44350 to fall again
If tomorrow price is range between 44000 and 44160 levels and goes up look for sell.@ Supply Zone.
Note
we have bullish gap left at43850 may acts as support...on above we have resistance @ 44160-44100 level. again push the price towards bottom side...
price is range between 44160-43850 only....
completes the entire range fast and starts consolidation
between the levels....
Note
Note
If no strong bearish momentum then look for buy side...Note
If price not able to break low...then will enter on long side.Note
If price is showing bullish pressure then don't be on bullish side...keep on sell side..It wants to finish the gap @43880 levels.
Note
Broken the trendline and retested...but not able to move either side...Trade closed manually
Price is in consolidation ....waiting for breakdown...but no momentum...Note
strong bullish momentum +Consolidation + Downside is slow momentum
any time price move upside....
if we see at support again consolidation,
if consolidation + downside= rise expected from bullish gap left below.
Note
Note
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