BANKNIFTY--44500 is Support or Resistance ??
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Bank nifty index a continuous fall is observed from the break of major trendline without retest.
price broken the demand @44800 and 44600 levels,
the previous resistance is also failed to push the price up,
so a strong fall is observed below 44500.
Price is now exactly closed @ 44500 level, which is a strong fall area previous.
if this again pushes the price down will observe a continuous fall to bottom levels @43800 levels.
if the same resistance acts as support, price is again be bullish.
tomorrow move will decide to go further lower or higher.
until keep in watch mode.
I will do one more post on buy side setup...
I cannot mix both intraday and swing setup in a single post.
Thanks for your support and Encouragement guys.
stay tuned for more updates....
price broken the demand @44800 and 44600 levels,
the previous resistance is also failed to push the price up,
so a strong fall is observed below 44500.
Price is now exactly closed @ 44500 level, which is a strong fall area previous.
if this again pushes the price down will observe a continuous fall to bottom levels @43800 levels.
if the same resistance acts as support, price is again be bullish.
tomorrow move will decide to go further lower or higher.
until keep in watch mode.
I will do one more post on buy side setup...
I cannot mix both intraday and swing setup in a single post.
Thanks for your support and Encouragement guys.
stay tuned for more updates....
Note
If resistance acts as support... It has to move upside..then this will be a possibility.
we will look for buy side...at Right shoulder...
Note
Price opened exactly at right shoulder... that is the key level...price can move any side....keep safe.Note
Price will gives us discount to go long....if it is a support.wait for long.Note
If price breaks above look for sell at neckline...Note
Price is at right shoulder with long tailing upwards...be safe.
Note
wait for long entry.Note
safe traders...take the entry on break and retest of neckline.Note
there is a chance to push it downside.Note
Reducing the risk to little.broken the trendline...and gives some pullback and breaks above i will enter long.
Note
will see in the next session what happens.
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Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
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